Global warming, energy security issues to dominate 21st century

London (Platts)--31Oct2006

Global warming and energy security will likely be dominant issues of the 21st
century, UK Energy Minister Malcolm Wicks told Euromoney's London conference
on financing new nuclear construction October 30.

He noted the same-day publication of economist Nicholas Stern's report warning
that failure to reduce carbon dioxide emissions will lead to a catastrophic
global recession. "The science is clear and alarming," Wicks said of the
report, which was commissioned by UK Chancellor of the Exchequer Gordon Brown,
but the economics of tackling global warming "do not need to be so alarming."
He said "early action across the international arena, although enormously
expensive, is affordable."

Wicks underscored the interconnections between global warming and energy
security, key reasons for the UK's energy review, which concluded in July that
new nuclear power could help tackle both issues. New nuclear construction
"could make a significant contribution," Wicks stressed.

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