June 30, 2011
HOUSTON -(Dow Jones)- There was no emergency in oil markets to warrant the globally coordinated oil release announced last week, a top executive from oil giant Royal Dutch Shell PLC (RDSA) said Thursday.
“That oil is there for emergency purposes. Do I consider now an emergency? I have to say I don’t,” said Marvin Odum, president of Shell Oil Co., the U.S. unit of the Anglo-Dutch giant. “It doesn’t change the middle- to longer-term picture. The conversation we need to be having is about the long-term supply issue.”
The executive said the best way to combat high oil prices was letting oil companies to increase crude production by tapping U.S. hydrocarbons resources.
The International Energy Agency said last week it would offer 60 million barrels of oil in an effort to offset oil supply disruptions in the Middle East. Half of these 60 million barrels will come from the U.S., which was accepting bids this week.
Separately, Odum said the company will make a decision in the next three or four months on whether it will be able to drill in Alaska’s Arctic waters next year. He said the company is hopeful it will be able to obtain the pending permits the company need in order to start drilling because there was a ” coordinated” effort from the Obama administration to help the company get through the process.
Shell still has to obtain a number of permits from the federal government in order to go ahead with its $3.5 billion investment to drill in the state’s Beaufort and Chukchi seas. Shell’s plans have been delayed by environmental lawsuits and permit issues on top of calls for better spill prevention and containment capabilities following BP PLC’s (BP, BP.LN) oil spill disaster in the Gulf of Mexico last year.
-By Isabel Ordonez, Dow Jones Newswires; 713-547-9207; isabel.ordonez@ dowjones.com
(END) Dow Jones Newswires 06-30-111753ET Copyright (c) 2011 Dow Jones & Company, Inc.
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.
