Oil prices at ‘threshold’ of civil disturbances

John Hofmeister, president of Shell Oil Company, said on Charlie Rose last night that oil demand cannot be met by current supply — foreshadowing rising petro prices and potential rebellion by consumers. Also, according to his analysis, we’re stuck with oil for at least another 20 years:

When Hofmeister speaks of drilling more in the US, he is referring to off-shore production, not land based extraction in ANWR and Colorado (which he opposes).

See also:

+ It’s about time to tax the petro-car culture