Gasoline demand is down from its peak and is likely to decline even more as vehicle fleet becomes more efficient. In addition to this trend reversal, International Oil production is less concentrated. Opecs share of production is down from 53 to about 35 . The existence of all contracts on the futures markets development of benchmark crude oil pricing and the availability of basic data from eia created by congress in 1977 have all brought Greater Transparency to the oil markets. As described in my written statement, eia is actively pursuing a number of important initiatives related to the timeliness and detailed of oil market data. Id like to thank you for the opportunity to testify here today, and hope to be able to answer your questions. Thank you. Thank you very much. And our next witness is mr. Lucian pugliaresi, president of the Energy Policy research foundation, agile recognized for five minutes. Thank you, mr. Chairman. Be sure to microphone on. Next slide. What id like to do is
Dialogue can contribute and not fashion to peace and prosperity in a very important region of the world. And they can also stimulate and form and other faith public debate on the risks and opportunities that policymakers in washington, seoul and beijing are dealing with. To get us started, we have a distinguished american official who was very much involved in policymaking here in washington and also in the stewardship of u. S. Relations with the republic of korea, peoples republic of china and other important nations in that region. Danny russell, whom ive had the honor of knowing and working with for many years as assistant secretary of state for east asia and pacific affairs. He recently within the last couple of weeks returned from travels with president obama to china, burma and australia. He is going to provide us with an overview of u. S. Interests and policies in the region. So danny, welcome back to brookings and thanks for giving us the view from washington and the view from
I think its completely crazy were doing substantive work on the 17th of december. I cant imagine were holding real conferences here right the week before christmas, but we are, but thats because theres so much to talk about, and im so glad to have you all come. Thank you, thank you all for being here. My name is john hamre, im the president at csis. I wanted to say special thanks to Julio Friedmann who is a friend. We have known each other for many years. Hes fortunately in town serving in government more directly. Hes a government guy, hes out at Lawrence Livermore labs but were so pleased he can be here leading at a crucial time when we need to be thinking through a lot of important issues. For a very strange reason, recently i have been doing some personal reading on the history of philosophy, and i was recently reading about Thomas Robert maltous, a british cleric who in the early 18th century who was a very provocative philosopher because he had very dark views about the future of
Utility partners in building more gas but still worried about those price shocks and they see keeping coal in the mix is one of the ways that they can avoid those kinds of shocks as part of what they do. Last thing i will say, of course, is thats the United States story. In other countries, coal is much more prevalent and the availability of gas much more limited. So, from a global perspective, we certainly see coal as an important player, not just in the United States or not just in north america but many parts of the world. Hi, Charles Ebinger from brookings. Julio, it seems to an outsider that the administration a bit schizophrenic on ccs and coal, in general, because the one hand, we have the excellent would, that you have highlighted the doe is doing, the other hand, we look at the organizations like opec, xn bank, so forth, as well as our positions in financial institutions, we seem to take a very negative attitude toward financing coal in other localities. Could you make a comme
Everybody. Things likes showcase projects for example in this country or in others. Also International Partnerships can accelerate the learning, sharing. Can accelerate deployment. We dont have to build five kinds of plants in five Different Countries if we can just build one plant in one country and share the results, it saves money and saves time in a very useful way. The International Landscape is also changing dramatically. Im sure many of you here watched the u. S. china accord that was announced in november. We were all very, very pleased with this. It includes, among other things, a large ccs project in china and a science project that is a joint International Project shared by the United States, china, and other nations. Were thrilled with this outcome. Theres also a new kind of project that the chinese are going to pilot, an enhanced Water Recovery project. Like enhanced oil recovery except pulling out oil you pull out brines and you use the pressure youre using in injection t