Global General

Cancun energy forum to focus prices, sustainability

(Xinhua)
Updated: 2010-03-30 11:16

CANCUN, Mexico - Cancun, a resort town on Mexico's Caribbean coast, will host the two-day 12th International Energy Forum Tuesday.

Mexican President Felipe Calderon will open the forum with a speech at 3:00 pm local time (2100 GMT). The forum will focus on three key topics: human development, prices and sustainability.

Venezuelan Oil Minister Rafael Ramirez Carreno will elaborate his country's development model called 21st century socialism.

The model uses oil profits as the ballast for development, offering state support for education, housing and other social functions.

Oil alternatives, a topic with increasing concern, will also be discussed.

The gathering will be attended by delegates from 64 nations, mostly energy or oil ministers. Representatives from 16 major international organizations, including the United Nations, the World Economic Forum, the Organization of Petroleum Exporting Countries and the World Bank will also be present.

Alongside the ministerial meeting, Cancun will host the fourth International Energy Business Forum, which has attracted 38 leaders of world's major oil companies including China's National Petroleum Corporation.