CANCUN, Mexico -(Dow Jones)- The current level of oil prices is "decent," allowing producers the return they need on investment while signaling a stable price for consumers, Dutch Minister of Economic Affairs Maria J.A. van der Hoeven said Tuesday.
A price range of $70 to $90 a barrel is "acceptable," the minister told reporters on the sidelines of the International Energy Forum gathering here. This level of prices is high enough to foster innovation and investment on renewables without crimping consumers, Van der Hoeveb said.
And an "stable investment climate is necessary" so that oil producers can keep pumping crude, she said. The minister added that current biofuel targets, which some oil producing nations have criticized as unrealistic, are "quite optimistic," and that in future climate discussions the world should embrace more realistic goals.
Renewables, however, are a necessary goal, she said.
Copyright 2009 Dow Jones Newswires
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