Unformatted text preview: ipbuilding and development of the equipment industry. High oil
prices are also the best incentive to invest in renewable energy. But the
automobile industry, for example, is not currently putting much effort into
developing cars that run on new energy sources. 74 Available on: <www.aftenposten.no>, May 23, 2008.
Bellona. Available on: <www.bellona.no>.
Havforskningsinstituttet (Institute for Sea Research). Available on: <www.imr.no>, May
© Ifri F. Harbo / The European Gas and Oil Market The changing character of the global oil market shows that oil
production is close to peaking. Saudi Arabia can no longer be relied on to
play its usual role of price regulator. Iraq, on the other hand, is believed to
have huge unexplored reserves. The region needs the help of Western
guidance, so that Iraq could work jointly with Saudi Arabia, or even replace
it, if its role as regulator ends. Advanced nations and leaders could
underwrite a so-called “Marshall Plan” for the Middle East, si...
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- European Union, ........., Peak oil, The European Gas and Oil Market