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Who better to discuss the evolution of American oil prices than the former president of Shell Oil? John Hofmeister discusses the history of oil consumption and a secure energy future that involves viable alternatives such as biofuels and high-efficiency vehicles for the United States Energy Security Council.

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3 Responses to “The Evolution of American Oil Dependency”


  1. On December 8th, 2011 at 2:02 pm Brian Woodruff Said:

    Nice, informative video, until the ending statement. Hoffmeister clearly explains why oil has been cheap in the past – - supplies used to increase ahead of demand. But the assertion that new oil development in the US will solve the affordability problem is false, and he knows it. This oil industry propaganda intends to garner support for lower fees, greater subsidies, and less regulation for the industry. Here’s why. US oil production peaked in 1972 and has been trending down ever since, except for an uptick from Alaskan production. At the global level, oil production has been essentially flat since 2004, fluctuating up and down within a range of 5% – - this is because new oil discovery and production are barely keeping pace with the declining production of giant, aging oil fields where the bulk of world supply comes from. So do not believe the assertion that US oil development would increase suplies sufficiently to bring back cheap oil, unless you think there are giant fields in the US that somehow got overlooked during several decases of increasingly effective exploration.


  2. On February 19th, 2012 at 4:51 pm Harold Said:

    The oil companies and producers are afraid of the day when we no longer need their product. See my post on broadcasting microwave power to rooftop dishes,home generators, Bloom Boxes. In the 1960s, GM tested the “Gas-Turbine engine (bult several cars for road test) then suddenly collected them all and destroyed them.
    See my other posts.
    H.


  3. On April 1st, 2012 at 4:34 pm Joseph Hobbs Said:

    Education is a wonderful thing! Hofmeister is right about the supply. The supply chain has been curtailed by radical enviornmental extremists and the EPA to such an extent that American companies cannot produce American oil reserves with American employees – creating the artificial reliance on foreign production. We cannot drill in a tiny oil prospect above the Artic Circle, we cannot get a pipeline approved to transport oil from Canada, we cannot drill in the gulf (as many other countires are doing!), and we cannot change until we get more people to understand the Global Warming HOAX that is being perpetuated now by the “Sustainability” programs. Fact is the USA has more oil than we need to last for 200+ years. The USA has more than 400% as much recoverable oil as all of the middle east producers combined. Please do a Google on “global warming hoax” and get real facts – Carbon Dioxide is actually a requirement for all plant growth, and is present today as a trace gas (less than 4 hundreths of one percent or about 380ppm – 0.038%), and man is not even close to the top of the list of producers of Carbon Dioxide (volcanoes, forrest fires, plant decomposition, are much larger producers than all of mankind from all sources). Oil producers should supported with our continued use of their valuable products, as well as continued development of reasnoable additional energy sources such as Nuclear, HydroElectric, Hydrogen, Solar, etc….. More than 70% of electricity in France is produced with Nuclear Reactors where the spent fuel cells are recycled back into useable fuel. Do the Google – global warming hoax

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