The Coming Oil Bubble

The following interview was published by Venster, a Shell Oil Co. Dutch-language magazine produced for circulation internally with in the company. The interview is with Shell Oil Company's CEO, Jeroen van der Veer, and was translated into English by Rembrandt Koppelaar, president of ASPO-NL and contributing Editor to the Oil Drum: Europe. I acquired the interview from a Blog post to the European Tribune that had added commentary by Jerome a Paris. For this Blog I am not using Paris' commentary but have removed his and added my own. I have rewritten some of the translation to correct some of the improperly written English. I made sure that none of my changes had any affect on the meaning of the translation.

The purpose of this post is to point out a very disturbing trend in oil pricing. There has been much speculation in the media and in the blog sphere that the price of oil today reflects a shortening of supply directly attributed to peak-oil having been reached. The interview with Jeroen van der Veer indicates something radically different is going on. My speculation is that he is right and that the consequences could be dire if unheeded.

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