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scienceblogs.com: Shell says 7 years before oil demand outstrips supply

(James Hrynyshyn above is a freelance science journalist based in western North Carolina, where he tries to put degrees in marine biology and journalism to good use.)

Category: climate
Posted on: January 25, 2008 10:27 AM, by James Hrynyshyn

The CEO of Royal Dutch Shell says “after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand.” This in an email from Jeroen van der Veer to his staff. Hmmm.

That means two things: even more demand for the expensive stuff, like Alberta’s tar sands, and really expensive gasoline. Unless, that is, van der Veer’s more optimistic scenario comes to pass:

The other route to the future is less painful, even if the start is more disorderly. This Blueprints scenario sees numerous coalitions emerging to take on the challenges of economic development, energy security and environmental pollution through cross-border cooperation.Much innovation occurs at the local level, as major cities develop links with industry to reduce local emissions. National governments introduce efficiency standards, taxes and other policy instruments to improve the environmental performance of buildings, vehicles and transport fuels.

As calls for harmonization increase, policies converge across the globe. Cap-and-trade mechanisms that put a cost on industrial CO2 emissions gain international acceptance. Rising CO2 prices accelerate innovation, spawning breakthroughs. A growing number of cars are powered by electricity and hydrogen, while industrial facilities are fitted with technology to capture CO2 and store it underground.

This from the CEO of the world largest fossil fuels pusher. Interesting.

For the article with comments go to…
http://scienceblogs.com/islandofdoubt/2008/01/shell_says_7_years_before_oil.php

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