By Amy Strahan
Nov. 8 (Bloomberg) — Political and technical obstacles to bringing oil to market become “more challenging all the time,” BP Plc Chief Executive Tony Hayward said today.
“Every geopolitical event causes a spike in the price, but these spikes only happen because the underlying market is itself tight,” Hayward said in e-mailed remarks prepared for the Houston Forum, a civic group. “For the medium term, the era of cheap energy is behind us.”
Crude oil futures touched a record $98.62 yesterday, the highest since trading began in 1983 in New York.
Hayward warned against U.S. politicians defining “energy independence” as lessening reliance on foreign oil sources. Such a move would “cause a misallocation of capital towards uncompetitive investments” and greater coal reliance, he said.
BP, Europe’s second-largest oil company, is seeking to boost the company’s oil production to as much as 3.9 million barrels of oil equivalent a day in 2007. Royal Dutch Shell Plc is Europe’s largest oil company.
Hayward succeeded John Browne in May.
To contact the reporter on this story: Amy Strahan in Houston at [email protected] .
Last Updated: November 8, 2007 15:04 EST
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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.
