Filed under: Etc., Legislation and Policy, Green Daily
Speaking of discussing how to spend government money with an eye to the future, the CEO of the oil company Total said that the world is not prepared for the oil demands of the next decade and needs to invest in finding and tapping into new oil reserves. Speaking to the BBC, Christophe de Margerie (pictured) said that, “If we don’t move [now] there will be a problem. In two or three years it will be too late.” One result of the underinvestment will be oil prices above $100 a barrel (again), he said. Another result might be “insufficient oil to meet demand” in the years 2010-2015, he said. The solution, according to de Margerie, is for “heads of government to get involved” and to support getting more petroleum out of the ground. But of course. Thanks to Jon for the tip!
[Source: BBC | Image: AFP/Getty Images]
Total CEO’s warning: invest now or oil might not be plentiful in 2010 originally appeared on Autoblog Green on Mon, 21 Sep 2009 19:48:00 EST. Please see our terms for use of feeds.
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