WASHINGTON, DC - Acting Deputy Secretary of Energy Jeffrey Kupfer will travel to London, England this week to participate in the London Energy Ministers Meeting-a follow-up to the Jeddah Energy Meeting held in June 2008. During the meeting, Kupfer will discuss the current state of the global oil market, encourage continued energy investment and identify opportunities for increased collaboration in energy efficiency and alternative energy technologies. He will also reaffirm U.S. support for open and competitive energy markets and transparency, including through the international Joint Oil Data Initiative. While in London, Kupfer will also take part in the Ministerial Meeting on International Partnership for Energy Efficiency Cooperation (IPEEC) and a number of bilateral meetings with key international counterparts.
"While the moderation of oil prices is certainly a welcome change for many families and businesses struggling in these tough times, it is also indicative of the volatility and uncertainty in world oil markets today," Acting Deputy Secretary Kupfer said. "We know that over time, our world's energy demand is expected to increase dramatically, particularly in the developing world, so this is not the time to pull back on our global commitment to developing an energy future that is cleaner, more sustainable, efficient, secure, and affordable."
On Thursday, Kupfer will attend the meeting of IPEEC-a proposed partnership jointly developed by the Group of Eight, People's Republic of China, India and the Republic of Korea (G8+3) energy ministers to provide a forum for consultations and exchange of information to help countries yield high-energy efficiency gains. During the meeting, which will also include Brazil and Mexico, Kupfer will continue to emphasize the importance of finalizing IPEEC and moving rapidly toward the implementation of effective policies to encourage the use of energy efficient technologies. Secretary Bodman previously met with the group during the G8+3 energy ministers ministerial in Aomori, Japan in June 2008. During that meeting, the ministers signed a political declaration in support of the near-term establishment of IPEEC and endorsed broader participation.
On Friday, Kupfer will participate in the London Energy Meeting where he will underscore the importance of energy efficiency-the quickest, least costly and lowest-risk path to achieving enhanced energy security and sustained reductions of greenhouse gas emissions and promoting economic growth. U.S. deployment of energy efficiency technologies has contributed to a reduction in energy intensity (energy consumption per dollar of gross domestic product) of over 13 percent for the U.S. economy since 2000. He will also reiterate U.S. support for a global move to increased renewable energy and alternative fuels development, more efficient and environmentally sustainable use of fossil fuels and deployment of advanced, safe and secure nuclear power.
The London Energy Ministers Meeting, hosted by the United Kingdom, follows on the Jeddah Energy Meeting attended by U.S. Energy Secretary Samuel Bodman in June. During that meeting, the participants agreed to promote greater market transparency, joint analysis by international energy organizations and increased energy efficiency.
Bethany Shively (202) 586-4940