Participating officials pose for a group
photo after the energy ministers' meeting at Aomori, Japan, on June 7,
2008. Energy ministers from Japan, the United States, China, India and
South Korea agreed to adopt comprehensive measures to deal with the
current rocketing crude oil prices during their meeting here on Saturday.
AOMORI, Japan, June 8 (Xinhua) -- Energy
ministers of the Group of Eight member countries and China, South Korea and
India gathered Sunday in the northeastern Japanese city of Aomori to talk about
rocketing crude oil prices and the role of energy efficiency against global
China, South Korea and India were invited to take
part in discussions following G8 members' one-hour exclusive meeting in the
In his opening address, host and Japanese Economy,
Trade and Industry Minister Akira Amari said the current unprecedented and
abnormally high oil prices could lead to a recession of the world economy if no
action were taken.
He called on all participating countries to pay
enough attention and make utmost efforts for the stability of the oil market.
The G8, which groups France, Britain, Germany,
Canada, Italy, Russia, Japan, and the United States, together with China, South
Korea and India, consume over 50 percent of world energy and are accountable for
the same proportion of global greenhouse gas emissions.
Amari described the issues of climate change and
energy as two sides of the same coin and proposed united solutions, such as
energy saving, alternative energy forms and innovative technology, to address
both issues simultaneously.
"As officials in charge of energy policies, we bear
great responsibilities for energy security, prevention of climate change and
economic development," Amari added.
The meeting was to see ongoing diversified opinions
over reasons leading to the doubling of oil prices in the past 18 months, as
China attributed it to mounting speculations and the United States insisted it's
a mere result of unbalanced demands and supply.
Crude oil prices surged an astonishing 11 dollars to
reach a new record high in New York on Friday.
The energy ministers meeting was one of a series of
ministerial meetings in the run up to the G8 summit to be held in northern
Japan's Hokkaido Prefecture on July 7-9.
Japanese officials said discussions at the meeting
would be reflected at the summit, whose agenda would be dominated by issues
involving climate change.
In line with the summit agenda, the energy ministers
meeting will adopt a declaration announcing the establishment of a new framework
called International Partnership for Energy Efficiency Cooperation (IPEEC),
which says energy saving and efficiency is one of the quickest, greenest, and
most cost-effective way to address energy security, climate change, and ensuring
Under the new framework, the G8 plus three and
potential participants will enhance cooperation and exchange information on
environment-friendly technologies for united efforts against global warming.