You can always count on politicians in just about every country to be behind the curve. It's obvious they're all afraid of how the economic downturn will impact their own positions in office but it's laughable how slow they all have been to move beyond oil-based economies. Some are more advanced than others but this is a problem that's been out there for decades so to see this last-second panic now is annoying as hell.
"The situation regarding energy prices is becoming extremely challenging," Akira Amari, Japan's trade and energy minister, warned his colleagues Sunday. "If left unaddressed, it may well cause a recession in the global economy."
Five top energy consumers -- the United States, China, Japan, South Korea and India -- urged oil producers on Saturday to boost output to meet growing demand, while pledging to develop clean energy alternatives and increase efficiency.
