FT.com / Lex / Energy, utilities & mining - Shell .
Unlike peak oil theorists, or “potheads”, Shell sees no lack of opportunities from which it can produce more oil and gas.
Of course it has.
And it's never had a problem in counting it, has it?
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peak oil theorists just acknowledge the fact that oil supply is limited as all other resources on this planet. and the soaring prices, which were something like 140-150 usd/barrel just last year were proving that.
in the article you cite, there is this comment:
Robert Plummer, an analyst with Wood Mackenzie Limited, said, “They are not reducing the number of barrels in the ground, but the time when they would be developed.”