By John Donovan
Retired Shell Oil President John Hofmeister (right) will say practically anything to get quoted in the news media, presumably in the hope of raising his public profile.
CNBC is today reporting his prediction that oil production won’t meet demand in 5 years. For some reason, he consistently tries to talk up the price of oil.
Those of us with good memories may recall a similar reckless prediction made by his former Shell boss, Jeroen van der Veer.
As reported in the Times newspaper article below (published in January 2008), Mr. van der Veer said that oil and gas demand would outstrip supply within 7 years. In other words, by 2015.