That means there will, once again, be a need for less, but more effective regulation – one that safeguards the rights of both producers and consumers, while ensuring adequate incentives for the exploitation of our natural resources The most important incentive here will be prices. Unfortunately, a large part of our energy problems today can be traced to a mispricing of fuels.
It will take time to understand the impact of these changes as well as the economy’s sensitivity to higher interest rates. Governing Council expects that incoming data and new research will shed more light on these four issues as we move forward.