In a rare moment of candor, Jeroen van der Veer, the chief executive of Royal Dutch Shell, acknowledged what many have long considered a forgone conclusion: the end of the oil era is almost upon us, and sooner than you might think. The Oil Drum retrieved an e-mail sent to all Shell employees in which the CEO admitted the obvious (emphasis ours):
"Regardless of which route we choose, the world's current predicament limits our maneuvering room. We are experiencing a step-change in the growth rate of energy demand due to population growth and economic development, and Shell estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand."
He went on to criticize the sluggish response by policymakers to the coming energy crisis:
"Taking the path of least resistance, policymakers pay little attention to curbing energy consumption - until supplies run short. Likewise, despite much rhetoric, greenhouse gas emissions are not seriously addressed until major shocks trigger political reactions. Since these responses are overdue, they are severe and lead to energy price spikes and volatility.
----------Rest of the article from TH here.
Read the original speech in its entirety here.
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While I'm not thrilled with future energy options including oil sands and nuclear, it is energizing and shocking to read that the CEO of Shell is acknowledging Peak Oil. Energizing because this means more skeptics may really start to look at alternatives to oil and shocking because, if Shell doesn't change its portfolio now, the CEO is admitting that they'll be out of business
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