Royal Dutch Shell predicts oil shortage by 2015

01/25/2008 | Times (London) (subscription required), The

Within seven years, global demand for oil and gas resulting from soaring populations and economic development will exceed the ability to deliver it, according to Royal Dutch Shell chief Jeroen van der Veer. The world's second-largest oil company predicts that despite government initiatives and investment in renewable energy, the world's demand for energy would lead to more nuclear power and unconventional fossil fuels, such as oil sands.

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