Clock's Ticking on World Oil Supply: Shell CEO

Energy demand will top supply by 2015

By Lucas Laursen, Newser Staff

Posted Jan 25, 2008 9:33 AM CST

(Newser) – World oil demand will outpace supply in 7 years, Shell's CEO warned in an email sent to employees in advance of the World Economic Forum in Davos, Switzerland. Jeroen van der Veer sees nuclear power, oil sands, and other unconventional energy sources replacing oil and gas out of necessity, whether or not world governments embrace renewable energy, the London Times reports.

Van der Veer said Shell sees two scenarios for the future: a zero-sum “scramble” for resources, if world leaders do nothing until supplies run short, and a more desirable “blueprint” coordination of governments on efficiency standards, emissions-trading, and other initiatives to curb runaway demand. But he didn't express much confidence that coordination will happen. He wrote, “It will be hard work and there is little time.”

Jeroen van der Veer. (Shell)

Snow falls on the logo of Davos near the World Economic Forum. (Getty Images)

High gas prices are posted at a Shell gas station in San Mateo, Calif., in this Nov. 14, 2007 file photo. Shell CEO Jeroen van der Veer warns that demand will outpace supply in seven years. (AP Photo/Paul... (Associated Press)

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OTHER STORIES ON OUR RADAR

energy • oil • Shell • alternative energy • population • oil supply

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

An Oil Giant, Alaska Faces Gas Crisis

Poor infrastructure, focus on oil exploration behind costly supply issues

Big Questions Remain Over 'Bloom Box' Servers

Company has ambitious goals but skimpy details

Drill, Baby, Drill!: Palin

Renewable energy, domestic oil development are complementary

'Bourgeois' Golf Courses Tee Off Chávez

Venezuela shutting down the links—that happen to be near oil

Shell Settles Nigeria Case for $15.5M

Saro-Wiwa settlement is milestone for international law

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Newser By Users

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