Taking a long term view developing fuels for the future

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Introduction How we use oil is becoming an increasingly important issue. There has been growing concern over society’s dependence on oil, the impact of vehicle’s exhaust emissions on health and the global effect of greenhouse gas emissions – particularly carbon dioxide – on climate change. Therefore, it is vital that large companies use their research and development capabilities to bring to the market new, alternative forms of fuel and energy, whilst at the same time modifying existing fuels derived from crude oil to make them more ecologically efficient. The UK government has recognised climate change as a priority. The Prime Minister, Tony Blair, has made climate change a focus for 2005 in the UK and the world – at a time when the UK government holds Presidencies of the G8 and EU. Climate change also played a major role at the Davos summit (a conference in Switzerland convened to address fundamental world problems). At Davos, Tony Blair stated that ‘climate change is the most important issue we face as a global community’. In making decisions, businesses are strongly influenced by changes in their operational environment e.g. customers’ changing needs and requirements, rivals’ activities, new legislation, government pressure and changes in…

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