Shell CEO Looks at World's Future Energy Options

Ultimately, world will need to turn to nuclear fusion, Jeroen van der Veer concludes after examining all the alternatives.

Published: 14-Jun-2005

KUALA LUMPUR, June 13 (Bernama) -- Oil prices will likely remain volatile this year with oil reserves continuing to be tight on lack of spare capacity, said chief executive Royal Dutch/Shell group, Jeroen van der Veer.

He said that the industry will need to find solutions for pressing energy problems.

"This will entail developing new resources in more difficult conditions or unconventional resources as well as sustaining the environment which requires investment, innovation and integration with various government stakeholders," he said at the Asia Oil & Gas Conference Monday.


Visits to China, India, Malaysia and Pakistan are significant because the trip spells out the Saudi Kingdom's Look East policy, representing a new reorientation in its foreign policy that was heavily tilted toward the West.

The worst two scenarios suggest a drastic decline in output to 875,000 barrels a day by the end of 2007 and to just 520,000 a day by the end of 2008.

Bush said he envisioned a future in which a plug-in hybrid car could drive 40 miles on a lithium-ion battery, then stop at a filling station for ethanol, a fuel usually made from corn, similar to HyMotion Prius pictured below.


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