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In this era of accountancy-led corporate thinking, where short term gain is the norm, research bodies have to adapt to survive.
Institut Francais du Petrole (IFP), a research body geared to producing marketable technologies, has spent 18 months rethinking its strategy.
"The short term approach dries up research," said IFP Pres. Francis Gutmann. He believes cutting research at times of low oil prices will lead to loss of competitiveness for some companies.
"A fresh oil crisis might well break out one day," Gutmann said. It will stem from economics--not politics--because spending needed to meet rising demand will not have been made in time.
With oil …