Tuesday, 27 October 2009

Total tell UK to get candles ready

Christophe de Margerie, Total’s chief executive, just told the FT that a clear framework needs to be put forward regarding carbon otherwise fossil fuel energy companies won't have the information they need to weigh up investments, leading to a supply crunch. Uncertainty is a greater problem for these companies than a clear tax framework, even if that tax cuts deep.

Then he told the UK to 'get the candles ready' if we don't sort it out.