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capitalnews9.com: Shell Oil president visits Albany

Updated: 8/6/2007 2:53:44 PM
By: Ryan Peterson
   
ALBANY, N.Y. — Shell Oil Company President Jeff Hofmeister said, “One thing I’ve learned is how unpopular the oil industry is, and we’re very sorry about that.”

Just as the latest AAA survey shows that the national average for a gallon of regular gas has dropped 9 cents in the past month, the president of Shell Oil Company is talking about all things energy in Albany.

Hofmeister said, “People are very nervous about running out of energy. The whole supply/demand issue can be dealt with if we move public policy towards the area of more production of oil and gas.”   
  
The stop is part of a 50-city tour to speak with and listen to business and community leaders about the energy industry. Hofmeister said there is a “razor’s edge divide” between the supply and demand and that’s why prices keep going up.

Wendy Thompson of Loudonville said, “It’s on my way to work. It’s quick, it’s easy, but wow…$3.05 for regular.”

Jason Rogers of Albany said, “You don’t really have time to drive around. You try to find the best bad apple out of the bunch, I guess.”

Royal Dutch Shell, the parent company to Shell Oil in the U.S., had revenues of over $300 billion last year, making it the second-largest corporation by revenue in the world, just behind ExxonMobil.

Hofmeister said, “This is not about oil companies being greedy and just trying to make as much money as they can. This is about how do we deliver, over the short, medium and long-term, reliable energy supplies to the American people.”

Shell is also one of the world’s leading investors in wind power. Hofmeister said it’s a viable and profitable alternative, but because it’s so variable and inconsistent, he said it will never fully replace other types of energy.

http://www.capitalnews9.com/shared/print/default.asp?ArID=217861

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