Speaker: Christof Rühl
1. Introduction
2009 was a year of recession, and of tentative recovery. Global energy demand fell sharply.
Individual fuel markets each have a story to tell. But underneath these market-by-market developments, there is a bigger theme. The global economy continues to undergo rapid structural change, with large swaths of the world aspiring to catch up to the income level of the OECD. Access to energy lies at the heart of this transformation. Energy data - more so perhaps than many macroeconomic indicators – show just how far we have come in this process. They show that recession and recovery from 2007 to date did not interrupt this transformation.
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