By Paul Betts, Chris Hughes and Peter Smith
Published: November 6 2007 02:00 | Last updated: November 6 2007 02:00
Oil is now flirting with $100 a barrel – a level never seen before. Governments and industry leaders are fretting and some, such as the former French energy regulator, are even suggesting that the price could hit $150 over the next decade.
But the panic may be overdone. In fact, we have been here before. Back in 1979-80, oil prices hit historic highs of around $40 a barrel which when adjusted for inflation is still slightly above today’s levels.
That turned out to be a bubble and prices collapsed five years later. The cycles have continued since and today’s exorbitant price increases may be no more than a simple replay of past cycles.
Highly regarded analysts, such as Morgan Stanley’s Eric Chaney, are predicting that oil could fall again below $50 a barrel. That may sound absurd in the current climate but other analysts at Lehman Brothers and Oppenheimer are also warning of a sharp plunge.
A warm winter could have a dramatic effect on prices, never mind the consequences of a slowdown in US economic growth or an easing of geopolitical tensions. Bears and bulls are poised for a showdown.
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Copyright The Financial Times Limited 2007
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
