Page added on October 30, 2007
JEFF RANDALL:
What do you mean by peak oil?
JAMES SMITH:
Well that somehow people are saying that oil is running out, as part of your question, I don’t think that’s the case. Probably the easy oil has been found, the big fields with the light crude that’s easy to produce and what we are looking into a future of is very substantial hydro-carbon resources but those hydro-carbon resources are going to be more difficult to produce, they are going to be heavier ?
JEFF RANDALL:
And more expensive.
JAMES SMITH:
Probably more expensive to produce as well. Very large projects, complex projects, so technology, partnership and a resilient balance sheet are going to be very important for the future but if you have got those things, and I like to feel that we have, then you can look forward to a future of opportunity.
SkyNews
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