Thursday March 02, 2006

Jobs at risk as energy costs rise

peakoil.com -> manchesteronline.co.uk :

Workers will lose their jobs if energy prices remain high, the Confederation of British Industry warned. Firms hit by sustained high prices expect to lay off workers in the next few months, according to a survey conducted by the business lobbying group. CBI official Steve Sharratt, said: "Oil prices are still high and hurting smaller manufacturers through increased energy and raw material costs, and recent news stories suggest energy prices are set to rise even further.

The news emerges as finance ministers from the world's wealthiest nations sounded the alarm over the cost of energy and urged greater cooperation to stabilise supplies. Ministers from the Group of Eight (G8) industrialised countries said that global economic expansion was being jeopardised by rocketing energy prices and volatile supply lines.

Russian president, Vladimir Putin, called on ministers to "develop a civilised strategy which will reliably secure the world with energy at reasonable prices and with minimal damage to the environment". Chancellor Gordon Brown said the G8 must launch a major energy initiative for developed and developing countries this year.

See also :

1. G8 finance ministers warn of energy threat to world economy
2. Energy costs become global concern
3. Author offers bleak peek at life after 'peak oil'
4. Fuel prices cause massive layoffs in Indonesia

(2006-03-02 14:32:07 SGT) [Energy] Permalink

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