Peak Oil News >> Geology; Reserves; Oil Fields >> World creeping closer to `oil shock'

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World creeping closer to `oil shock'

The charitable view is that Big Oil is merely reacting to investor expectations. "CEOs are listening to what institutional shareholders want," Lehman Brothers Inc. analyst James Crandell told Business Week in June. "Production growth is a secondary goal, if it's a goal at all." The less charitable view is that consumers are now at the mercy of a cabal of like-minded Big Oil CEOs who are no longer forced to bet their companies on a potential giant discovery — as the plucky Arco did in Prudhoe Bay in partnership with Exxon — because of a tacit understanding among today's majors that they won't compete for the kinds of projects that once could make a company.

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Posted on Saturday, July 24 @ 11:18:53 PDT by admin

Most read story about Geology; Reserves; Oil Fields:
Peak Oil is a Myth

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Re: World creeping closer to `oil shock' (Score: 1)
by Whitecrab (Whitecrab@hotmail.com) on Saturday, July 24 @ 18:52:26 PDT
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I sent a follow-up to Olive (the author) about Hubbert's peak, a few #s on the hydrogen economy and the problems ahead. Have to hope he reads it.

Re: World creeping closer to `oil shock (Score: 1)
by acrid15 on Monday, May 29 @ 03:33:52 PDT
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Re: World creeping closer to `oil shock (Score: 1)
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