“An energy crisis is on its way and it’s likely to be triggered by oil,” said Hess, chairman since 1995 of the New York-based independent driller and refiner. “$150-a-barrel oil was a warning.”
Recession fears and a slowing global economy have helped push oil prices down to $86 a barrel from over $100 in May. But don’t be lulled into thinking it’s 2009 all over again, Hess said. Global oil demand fell by 2 million barrels a day in the depths of the financial crisis, he said, while today, demand in the industrialized world is down only slightly and emerging markets are continuing to grow.
http://www.forbes.com/sites/energysource/2011/09/27/hess-predicts-oil-shock-if-supplies-dont-rise/?feed=rss_home
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