Top oil producing countries among the G8 nations said that they would increase the producing capacity of oil. They also invited other nations for increasing investments to raise supply in the market.
The gathering put emphasis to grow efficiency in the consumer countries. Use of efficient technology and alternative power sources were emphasized in the meeting.
Developed nations such as Britain and other Western nations should help the developing nations for minimizing the environmental impact on energy use.
Soaring oil prices has pressurized the economic growth and inflation on the world economy.
A better energy efficiency and energy diversification is accepted as the solution for the nations having an upward demand for oil.
