What is Peak oil?
"The term Peak Oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion."
--Colin Campbell
SHELL: Huge sums needed to keep energy flowing
Submitted by Mikael Höök on Mon, 2009-06-08 06:57.
The head of Shell, Jeroen Van De Veer, highlighted the mounting challenges facing the oil and gas industry with particular emphasis on the sheer sums of money needed to be invested to keep energy flowing.
He said energy demand will double between now and 2030 and that the classical oil and gas industry cannot meet this rising demand. De Veer believes that the industry needs renewables and unconventional fuels added to the energy mix to meet rising demand.
“The energy mix in the world is not the role of companies, I think it is a role for governments as they have the tools to set the energy mix,” said De Veer.
Read more: Upstream Online
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