Oil industry 'sleepwalking into crisis'

The UK's Independent on Sunday reports that he former chairman of Anglo-Dutch oil giant Shell says the oil industry is "sleepwalking into a crisis" regarding diminishing supplies.

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.

SOURCE

It seems today is a day of some revelation! First Alan Greenspan says the Iraq war was for oil. Now the former Shell chairman admits were are due to peak in oil production. All this stuff was known some 8-10 years ago.

Read Michael C. Ruppert "Crossing The Rubicon" to see how all the dots are joined together.

Originally posted by uknumpty
The UK's Independent on Sunday reports that he former chairman of Anglo-Dutch oil giant Shell says the oil industry is "sleepwalking into a crisis" regarding diminishing supplies.

It's interesting how all these 'former' oil industry leaders are jumping on the peak oil bandwagon right after they have 'gained' some credibility by leaving their corrupt former employers. Interestingly what they are doing is still helping oil prices to rise so why are so many so willing to suddenly believe them? What are they doing now that is not serving their original interest of making their class wealthier?

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.

SOURCE

Well it peaks every year for one organization or another and if this Shell personality now wishes to extend the deadline to somewhere in the next two decade i guess Colin Campbell and other peak freaks such as Simmon's will have to change their tune now that they have been 'corrected' by big oil itself.

It seems today is a day of some revelation! First Alan Greenspan says the Iraq war was for oil.

Just like the USAF in my opinion set fire to Kuwait's oil fields in 1991 they are now sabotaging Iraq to ensure that no one gets enough of resource which is so plentiful that it's per dollar price dropped to less than 8 USD in the late 90's. I am still wondering if the creation of the 'tech bubble' had anything to do with that but since i am no economics.....

Now the former Shell chairman admits were are due to peak in oil production. All this stuff was known some 8-10 years ago.

They keep telling us how it's going to peak but they have been dead wrong for very many decades now. What in particular have convinced you that the doomsayers have it right this time?

Read Michael C. Ruppert "Crossing The Rubicon" to see how all the dots are joined together.

What Ruppert says in relation to peak oil is best consigned for use in and around the bathroom ( cleaning floors and other thing) and he should have stuck to telling us what we knew about the CIA drug running if he wanted to remain credible.

Stellar