CNBC Europe

CNBC Europe

April 08, 2006 06:37 ET

Addicted To Oil: Can The World Cope With The Coming Risks?

LONDON, ENGLAND and BERLIN, GERMANY--(CCNMatthews - April 8, 2006) -

QUOTES FROM THE NEXT GLOBAL PLAYERS WITH SABINE CHRISTIANSEN



COMPLETE DISCUSSION BROADCAST ON CNBC EUROPE:
Sunday, 9 April at 20.00 CET
Monday, 10 April at 22.00 CET (repeat)
Also broadcast on CNBC Asia and CNBC in the US


Tomorrow on CNBC's new series Global Players with Sabine Christiansen, leading oil experts discuss if the world is addicted to oil and if we can cope with the coming risk.

Kjell Aleklett, President of the Association for the Study of Peak Oil & Gas (ASPO) thinks that the biggest risk is in Saudi Arabia. "If something big happens in Saudi Arabia, that is the real threat to the world."

Malcolm Brinded, Executive Director of Exploration and Production at Royal Dutch Shell said that Shell worries about oil prices at the current level. "Over time these prices will have an impact on supply and demand. In order to achieve security of supply we need to increase investments. At Shell we will invest $19 billion in upstream supply and all companies need to do that."

Edmund Daukoru, President of the OPEC Conference and Minister of State for Petroleum Resources in Nigeria rejected the idea that his country is not running out of oil. "We will produce oil for another 45 to 50 years of consumption. The capacity level has not reached yet. We are still installing additional capacity. No disruptions can end the oil production of Nigeria."

Claude Mandil, Executive Director of the International Energy Agency, said it is not a problem of production, but of capacity. "There is no margin of manoeuvre to cope with any un-expectancy. We need investments to develop alternatives, like bio fuel and we need to be more efficient to use energy."

Kevin Rosner, Energy Adviser to NATO doesn't think the world has a supply problem. "We don't have an oil crisis, we have a price crisis." However, he added that the world needs to use energy more efficiently and intelligently.

The programme, filmed yesterday at the International Oil Summit in Paris, is the fourth in CNBC Europe's new 12 part series, which airs around the world on CNBC. Previous episodes of Global Players with Sabine Christiansen have discussed crucial geo-political issues with panels of pre-eminent international leaders that have including Donald H. Rumsfeld, US Secretary of Defense; Gunter Verheugen, Vice-President, EU Commission and Thomas LaSorda of DaimlerChrysler.

Programme support:

Based on Allianz' fundamental understanding of corporate social responsibility (CSR) and the necessity of dialogue on issues of global importance, Allianz is a strong supporter of CNBC's Global Players with Sabine Christiansen, which recognizes and raises the importance of dialogue between people and experts around the world.

During the programme's advertising breaks, Allianz is placing 30 second CSR advertising spots as part of an overall campaign, to raise awareness of the dropping knowledge global initiative - a new intercultural platform for global discourse and social change. Allianz is the Founding Partner of dropping knowledge since 2005, and encourages people to participate in a broad public discourse. More information on dropping knowledge's and Allianz' partnership can be found at www.knowledge.allianz.com or www.droppingknowledge.org.

Contact Information

  • CNBC Europe
    Hugo Foulds
    +44 (0) 20 7653 9398
    Mobile: +44 (0) 7973 202 295
    www.cnbceurope.co.uk
    or
    TV21
    Michael Ortmanns
    +49 30 59 00 35 540