<DrumBeat: April 8, 2008The Oil DrumEROI on the Web part 2 of 6, (Provisional Results Summary, Imported Oil, Natural Gas)>
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80 comments on Shell Sponsoring Peak Oil Communication?

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SanZan on April 8, 2008 - 2:31am Permalink | Subthread | Parent | Comments top

Just thinking aloud here, but weren't oil execs up before Congress recently to explain their record profits? Although the majors are increasingly powerless compared to national oil companies like Aramco, they remain the public face of the oil business. If scarcity and inevitably higher prices are to come, some pre-emptive explanation of their situation may well be in the oil companies' interests. It is they who are in the firing line for any backlash that is to come.

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GarryR on April 8, 2008 - 6:57am Permalink | Subthread | Parent | Comments top

US Congress has no interest debating risk/reward of oil and natural gas exploration as they like most Americans have a "gas pump" mentality and believe we have a GD given right to cheap energy. Their debate ignores competition for energy supplies and regardless of Peak Oil that easy stuff is long gone. They browbeat real energy suppliers while encouraging the "what if". Big (and little)oil will continue to invest in the opportunity created by small DC minds.

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silence on April 8, 2008 - 11:06am Permalink | Subthread | Parent | Comments top

I watched that hearing. John Hofmeister explicitly denied (under oath) that we are at peak oil, and indicated that he sees global oil extraction rates reaching 110 million barrels per day.

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