High gas prices here to stay, says IMF managing director

The managing director for the International Monetary Fund, Rodrigo Rato, said Sunday that high gas prices around the world are here to stay. In an interview with the Spanish newspaper El Mundo that focused on the European market with an eye toward the global situation, Rato said, "In Europe there is too much rhetoric and too little reform" of the economy and that,  "oil prices are going to remain at high levels given the forecasts of rising demand and the supply limitations." All the more reason for energy conservation and alternative sources of power and transportation to gain wider acceptance around the globe.
[Source: Reuters via EV World]