BP’s Exec. Director, Tony Hayward, says that energy efficiency is very important. Via BP. (h/t Climate Group)
Creating a low-carbon economy will be far from easy and over time will require the wholesale re-engineering of the global economy. It will demand very significant investment by industry, which in turn requires a clear and stable regulatory regime.
The complexity and scale of the task make it especially important that those involved respect three principles:
First, efficiency - the best way to more secure energy is saving energy.
Second, diversity - there is no one, silver-bullet solution or technology that will deliver a secure energy future. A diverse mix of resources and technologies will be needed.
Third, competition - efficient markets and market mechanisms will provide the most effective way to produce and distribute energy and to induce change.
Without a credible and enduring framework, it will be impossible for industry to invest at the scale necessary to maintain and enhance our energy supply.
And the consequences of failure would be serious.
We need to ensure that we don’t leave our children and grandchildren with the unknown hazards of climate change, and we need to keep the lights on in the future. If we can meet both these challenges, as I believe we can, we will truly have delivered energy security. (emphasis mine)
