Former New York Governor Sees ‘Enormous’ Opportunity for Energy

The energy industry has “enormous opportunities” worldwide that are distinct from the dangers posed to growth from the unfolding European debt crisis, former New York Governor George Pataki said.

“Energy and resources have enormous opportunities in this economic climate,” Pataki said in a phone interview yesterday.

Pataki, who was elected to the board of Hungarian energy group E-Star Alternativ Nyrt. this month, said he was optimistic about the economic prospects for Hungary and central Europe in general.

With global demand for energy set to climb further, fueled primarily by developing markets in China and India, the potential for future growth in the industry is “very strong” away from the “volatile” economic climate, he said.

“I don’t think you can simply put your head down and wait till this blows over; you have to continue to look at opportunities,” Pataki said.

To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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