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Business diesel card news: Oil will be used for the "foreseeable future"

10 March, 10
Oil will be a dominant source of energy for many years to come, both the world's top oil producer and top energy user have agreed.

Khalid Al-Falih, from Saudi Arabia and Steven Chu, the US energy secretary, both said at this week's CERAweek conference about the future of energy that they believed fossil fuels such as oil would be the world's main source of energy for "the foreseeable future".

Star Telegram reports that Mr Al-Falih, president and chief executive of the Saudi Arabian oil company, said: "I don't think any of us will see, at any time in our lives, fossil fuels meeting less than 70 per cent of total energy demand."

World energy demand is expected to double over the next 40 years, Mr Al-Falih said.

Representing the US, the world's top energy user, Steven Chu said whilst we will continue to use oil, we will eventually have to use it in a "cleaner way", reports Reuters.

Posted by Tammy Brooks
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