Monday, January 28, 2008

Shell Oil CEO Informs Employees That Peak Oil is an Estimated 7 Years Out!

In a move that defies the stance of other petrochemical giants, the Shell CEO, Jeroen van der Veer, sent a letter to employees stating in no uncertain terms that peak oil is about 7 years out. (bold type for emphasis by treehugger)

"Regardless of which route we choose, the world's current predicament limits our maneuvering room. We are experiencing a step-change in the growth rate of energy demand due to population growth and economic development, and Shell estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand."

Van der Veer goes on to briefly and reasonably discuss the shortfalls of current public energy policy and renewables. Do you think they meant for this to become general knowledge? It's time to ramp up our battery/hydrogen/cellulosic ethanol/wind/solar research, according to Shell, we'll see a sharp increase in oil prices ($500/barrel?) by 2015!

via treehugger


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