Today we have another forecast from a Chief Executive of Royal Dutch Shell Plc, no doubt based on an assessment by the crystal ball gazers at Shell, the famed Scenarios team. Is it a case of wishful thinking on the part of Shell? Can we have faith in the prediction made by the current CEO?
By John Donovan
Today we have another forecast from a Chief Executive of Royal Dutch Shell Plc, no doubt based on an assessment by the crystal ball gazers at Shell, the famed Scenarios team.
According to Catherine Boyle of CNBC, Ben van Beurden, Shell’s current CEO is confident that oil will return to “very robust” pricing in the long-term.
This is despite the fact that as a result of increased production by Saudi Arabia and the USA, Brent crude dropped to less than $93 a barrel last week, the lowest price for two years.
Is it a case of wishful thinking on the part of Shell?
Can we have faith in the prediction made by the current CEO?
In January 2008, the then CEO Jeroen van der Veer forecast that demand for oil and gas would outstrip supply within 7 years. The prediction was based on an assessment from the Shell Scenarios team.
So will peak oil occur in four months time?
No, because the prediction turned out to be wildly inaccurate.
Since Jan 2008, the outlook has transformed as a result of the shale revolution leading to what the Sunday Times has recently described as a huge surge in production, leading to America snatching Russia’s crown as the world’s biggest producer of fossil fuels.
I must therefore conclude that it is a self-serving worthless prediction by a team with a flawed record in recent years of crystal ball gazing. The same team that failed to predict the shambles in Shell’s Arctic campaign.
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Shell seers who failed to predict Arctic debacle offer latest scenarios
We’ll begin to run out of oil within 7 years: Daily Express 26 Jan 2008.
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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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