The Council on Foreign Relations held an interesting energy futures seminar March 31, 2008 chaired by Edward Morse, Chief Energy Economist of Lehman Brothers. The featured guest was the CEO of Royal Dutch Shell, Jeroen van der Veer. The transcript is a bit rough, but will reward the careful reader with insights into Shell thinking you won’t find on NPR. And Ed Morse is one of our reliable sources on energy economics — who talks as straight as his position permits. As does van der Veer, who centers the formal part of his presentation on the Shell energy scenarios to 2050, “Scramble” and “Blueprints”.
If you are wondering why I think it is useful to understand the thinking of Royal Dutch Shell it is simple. Unless aliens land on earth to hand us a miracle technology, stabilizing GHG emissions requires $ trillions of capital investment. If companies like Shell do not fully participate, then it is not going to happen.
There is video of the seminar here. And a 50-page PDF summary of the Shell scenarios can be downloaded here.
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