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Dow Jones Newswires: Shell: Easy Oil No Longer Matching Demand After ’15 – Web Site

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA) “estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand,” the company’s chief executive said in a text obtained by a Web site.

In a document obtained by Royaldutchshellplc.com, a Web site critical of the company, Jeroen van der Veer also predicted that under the company’s preferred scenario, 90% of the carbon dioxide emitted by coal- and gas-fired power plants in developed countries would be captured by 2050.

Under that scenario, released internally to staff Tuesday, the percentage of captured carbon dioxide would be at least 50% for less developed nations, which aren’t members of the Organization for Economic Cooperation and Development. “Today, there are none” – operating coal and gas-fired power plants with carbon capture, van der Veer said.

The company’s preferred scenario also would see “major cities develop links with industry to reduce local emissions” and national governments introduce policy instruments to improve environmental performance.

Under an alternative scenario, Shell said nations would “rush to secure energy resources for themselves, fearing that energy security is a zero-sum game, with clear winners and losers.” In that scenario, “the use of local coal and homegrown biofuels increases fast” due to lack of attention by policy makers to curb energy consumption, van der Veer said.

A Shell spokesman confirmed the existence of the document without commenting on the details.-

By Benoit Faucon,
Dow Jones Newswires;
44-207-842-9266;
23 Jan 2008 22:52 GMT

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