Tuesday
Apr012008
Hofmeister: Oil price increases not controlled by oil companies
Shell Oil President John Hofmeister says that increases in oil prices are not caused by the actions of oil companies, but by increasing demand and other factors.
(0:39)
Listen
(0:39)
Listen
tagged 
Hofmeister, Shell, oil companies, oil demand, oil prices, oil profits in Audio
Hofmeister, Shell, oil companies, oil demand, oil prices, oil profits in Audio
Reader Comments (1)
That is interesting. If it is not caused by the actions of the oil companies I wonder how it just happened to work out that their profits have quadrupled. What exactly are the other reasons then and what exactly is keeping them from putting some of that enormous profit into researching other renewable resources? Could it be that they would have to give up their extreme wealth if we implemented other sources of energy? Of course they don't want us to put a tax on fuel for researching greener alternatives that would cause them to have to lessen their prices and well put them out of business.