Oil industry 'sleepwalking into crisis'
Former Shell chairman says that diminishing resources could push price of crude to $150 a barrel
IF LORD OXBURGH STATEMENT HAS ANY TRUTH TO IT, THE UNITED STATES CONGRESS HAD BETTER GET OFF THEIR BUTTS AND GET BUSY. THE U.S. NEEDS TO START DRILLING AND GET A TRUE POLICY ON ENERGY. WE HAD BETTER HOPE FUEL CELLS OR BIGGG BATTERIES BECOME A REALITY.
THE ENVIRO WACKO MOONBATS MAY COST US ALL DEARLY IN THE FUTURE. THE COSTS FOR NEW OIL AND TECHNOLOGY WILL ONLY INCREASE, BETTER TO SUCK UP NOW AND GETHERDONE.
Lord Oxburgh, the former chairman of Shell, has issued a stark warning that the price of oil could hit $150 per barrel, with oil production peaking within the next 20 years.
He accused the industry of having its head "in the sand" about the depletion of supplies, and warned: "We may be sleepwalking into a problem which is actually going to be very serious and it may be too late to do anything about it by the time we are fully aware."
Waco Chemical & Supply Co.,
preserving the environment through Waco EARTHKLEEN AND ECOSMART chemical products and chemical recycling.