The World Energy Outlook suggests some paths to improvement through the diversification of energy sources in power generation, through emissions trading and through reform of transport systems. Through individual and collective actions, the outcome can be significantly better. Our meeting has been held at a time of higher and volatile oil prices, continuing increases in global oil demand, localised supply problems for some forms of energy, concern about long term security of supply and increasing attention to the environmental impact from energy use. The experiences of the last two years have underscored that a secure supply of affordable energy is not a foregone conclusion. We emphasize that energy remains an essential ingredient of human progress and prosperity.
Economic development requires access to secure and affordable energy.
For billions of the earth's poorer people, access to affordable energy will accelerate the escape from poverty. Yet, while assuring growth, we cannot allow energy use to impose unacceptable burdens on any part of global society or on the natural environment. We welcome the constructive and improved dialogue between producers and consumers as manifested in the Seventh International Energy Forum held in Riyadh last November and we expect this dialogue will be further enhanced in the next forum to be held in Japan in 2002. We also welcome the expanding energy dialogue, particularly with China, India and Russia, as well as recent initiatives linking the IEA, key non-Member countries and other international organisations. We welcome other positive developments.