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dipsydoodle Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-21-09 10:10 AM
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Total issues oil shortage warning
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Source: BBC News

The head of oil giant Total has told the BBC the world could face a shortage of oil because of underinvestment.

Chief executive Christophe de Margerie warned that too little has been spent trying to tap into new oil reserves because of the economic crisis.

"If we don't move there will be a problem," Mr de Margerie said. "In two or three years it will be too late."

He also said he thought oil prices would rise to more than $100 a barrel, from their current level of around $70.

Read more: http://news.bbc.co.uk/1/hi/business/8266200.stm
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