Friday, March 07, 2008
Crude oil may reach a record $130 a barrel this year because pension funds are investing more in commodities, according to one hedge fund executive.
The outlook for oil over the next five years is also “bullish” as producers find it hard to replenish reserves and demand outpaces supply, said Pierre Andurand, the chief investment officer of BlueGold Capital Management LLP.
Oil companies such as Exxon Mobil Corp., Royal Dutch-Shell and BP are finding it tougher to replace their findings and are drilling for harder-to-reach deposits while energy demand and crude prices surge to records. With commodities prices surging to all-time highs, the California Public Employees’ Retirement System, the largest U.S. pension fund, said it plans to boost investments.
Calpers, which has about $240 billion in assets, agreed at a Feb. 19 board meeting to hold between 0.5 percent and 3 percent of its assets in commodities, spokesman Clark McKinley said last week. The California-based fund last year put $450 million into commodities — its first such investment.
“Next year, oil may rise even further to $150 a barrel,” said Andurand, whose $300 million fund has so far invested 70 percent in energy and 30 percent in agriculture and metals since February.
http://www.rigzone.com/news/article.asp?a_id=58001
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.
