Oil industry failing to use the Net

NEWS The oil industry is missing a golden opportunity to improve its profitability by not exploiting the Internet fully, according to attendees at a recent conference in London. Victor Burk, managing director of energy industry services at Arthur Andersen, told Reuters: "There's been no strategic linking but instead errors, conflicts, wasted resources and missed opportunities." Arthur Andersen has calculated that online energy sales will be worth over $250bn within the next five years.