Tanaka said progress needed to be made on... a successor treaty to the Kyoto Protocol on cutting emissions which expires in 2012 to give investors the incentive to put money into the sector.... The IEA will be calling for a clean energy 'new deal' to encourage investment into renewable energy and energy efficiency, Tanaka said...." [Dow Jones/Factiva]

Meanwhile, FT writes that "...The fall in the oil price is set to give a $1trillion stimulus to oil-importing countries this year, Tanaka has said, as he urged oil producers to think about their 'mutual interest' with consumers.... The IEA has calculated that if oil stays at about $40 a barrel this year, down from an average of about $100 a barrel last year, it will be worth $1 trillion to oil-importing countries in increased spending power...." [The Financial Times (UK)/Factiva]

Reuters adds that Tanaka "...urged producers to invest in new production now to avoid a repeat of last year's oil price spike. A lack of investment now by the Organization of the Petroleum Exporting Countries (OPEC) could shrink the group's unused oil capacity by 2013, threatening a repeat price surge, he said...." [Reuters/Factiva]