SOURCE: Industrial Info Resources

June 12, 2008 07:00 ET

BP 2008 Energy Review Finds Oil Production Problems Are Political, Not Geological, an Industrial Info News Alert

JOHANNESBURG, SOUTH AFRICA--(Marketwire - June 12, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- While introducing the 2008 edition of the BP Statistical Review of World Energy, BP's (NYSE:BP) (London) CEO Tony Hayward said, "Interestingly, oil consumption growth is now concentrated in countries that subsidize consumer prices, primarily oil-exporting nations and rapidly growing non-OECD economies such as China and India." He said that high and volatile prices, reflecting a tight balance of supply and demand, have put issues such as energy security and alternative energies at the forefront of the political agenda worldwide.

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