PAJ calls for political support to ensure stable oil supply

Petroleum Association of Japan Chairman Akihiko Tembo, who is president of Idemitsu Kosan, has called for “political support for the stable supply of petroleum,” in reaction to a debate begun by the General Subcommittee of Japan’s Advisory Committee on Energy and Natural Resources, regarding a revision to the country’s basic energy plan. Speaking at a press conference held on July 16, Tembo said, “We are entering an era in which developing countries such as India and China are scrambling to secure energy sources all over the world. The idea that we can buy energy if we pay money, as we have been doing so far, is wrong and we should clearly position petroleum in our primary energy sources.” Although domestic demand for petroleum products is currently sluggish, he forecast that even in 2030 petroleum would account for about 40% of Japan’s primary energy needs. (July 21, 2009)