I know others have different feeling/opinions of the climate change, and I am not taking sides just posting what is being said and could affect us all in time. Any opinions welcome. They do mention climate change in the complete report at the site.

G-8 to fight oil prices with efficiency, tech By JOSEPH COLEMAN, Associated Press Writer
12 minutes ago

G-8 to fight oil prices with efficiency, tech - Yahoo! News

AOMORI, Japan - The world's top industrialized nations and leading oil consumers pledged Sunday to fight skyrocketing energy prices by increasing efficiency and accelerating investment in new technologies, while urging producers to expand production.

Energy ministers from the Group of Eight countries, joined by China, India and South Korea, voiced concerns over record oil prices and said both producers and consumers would benefit from greater market stability.

Ministers, meeting in the northern Japanese city of Aomori, focused Sunday on how they could diversify their energy sources to both control rising demand for oil and rein in emissions of greenhouse gases blamed for global warming.

"We simply must increase the level and breadth of investment all around the world," said U.S. Energy Secretary Samuel Bodman. "That means promoting aggressive investment in renewable energy and other alternative energies technologies, as well as the development of traditional hydrocarbon resources."

The 11 nations, which account for 65 percent of the world's energy consumption, grappled with oil prices that have hit record highs. Prices made a massive 8 percent gain Friday to $138.54 on the New York Mercantile Exchange.

The G-8 countries — the United States, Russia, Japan, Germany, France, Italy, Canada and Britain — laid out in a statement ways of cutting their dependence on oil.

Paulson Sees US Economy Better By Year-End
U.S. Treasury Secretary Henry Paulson will tell his counterparts at the Group
of Eight leading nations this week that the U.S. economy should improve by
year-end despite ongoing obstacles to growth, a senior U.S. Treasury official
said Friday.
“Secretary Paulson will tell his G-8 colleagues that the housing correction,
financial market turmoil, and high energy prices continue to weigh on the
U.S. economy,” said David McCormick, Treasury undersecretary for international
affairs, in prepared remarks for a briefing ahead of the G8 meeting
being held Friday and Saturday in Osaka.
“While we are still working through housing and capital markets issues, and
expect to be doing so for some time, we also expect to see a faster pace of
U.S. economic growth before the end of the year,” he said.

can't add link because it is from my trader news.