Valuing saved barrels at the low end of credible estimates of their "external" cost could repay taxpayers' bailout loans, rebuild automakers' competitiveness, boost security and save carbon.
In his Financial Times article Mr Lou goes on to call for what look like special terms for any investment in the UK. He asks for "pro-investment policies to create an attractive environment" including "reducing taxes and offering bank loans at discounted rates", and says governments seeking external investment "should relax regulatory restrictions".