ChevronTexaco CEO: Cheap Oil Over As Competition Heats Up

[cthrumatrix]

HOUSTON (Dow Jones)--The world has entered a new era of more expensive oil and
greater competition for resources, and the U.S. will have to formulate a
national energy policy to keep up, ChevronTexaco Corp. (CVX) Chief Executive
David J. O'Reilly said Tuesday.

"We're seeing the beginnings of a bidding war for Middle Eastern oil between
East and West," he said.

Strong growth in energy demand in China has been a main contributor to the
past year's surge in oil prices. The Asian giant is not only drawing in greater
volumes of imports from the Middle East and elsewhere, but is aggressively
bidding for access to resources.

snip

O'Reilly gave some support to those views, saying the era of cheap oil is over.


Dow Jones news story --- I need help with a link.

I thought this was "quite important" when the CEO of Chevron says "the era of cheap oil is over"

Iraq and Iran is all about $$$$ and oil ......

[cthrumatrix]

1. ChevronTexaco CEO calls for new U.S. energy policy (CBS Marketwatch)

ChevronTexaco CEO calls for new U.S. energy policy (CVX)

By August Cole

HOUSTON (CBS.MW) -- ChevronTexaco Corp.'s (CVX) top executive said Tuesday that the United States needs to come up with a new energy policy because current regulations and restrictions make it too difficult to meet demand. Chairman and Chief Executive Officer David O'Reilly said at a Houston energy conference that U.S. energy independence "has no grounding in reality." He also said that energy policy should consider alternatives to natural gas, such as coal and nuclear, renewables and energy efficiency.

http://www.marketwatch.com/news/newsfinder/pulseone.asp?siteid=mktw&guid=%7BBD7949B4-8B95-44F4-B614-1CD15DCC03C3%7D&

[President Jesus]

10. ceo O'Reilly's littany of GOP campaign contributions

http://www.newsmeat.com/ceo_political_donations/David_O'Reilly.php

[Solon]

2. Holy shit, stating the obvious...

Peak Oil is here, and here to stay, the only question now is how we will handle the rising tide in prices.

[cthrumatrix]

3. It's more than ...it's each country positioning itself for global renergy"

So you have China & Russia maybe India vs the US and others

[denverbill]

4. Thank GWB. It's the drop in the dollar that caused this.

And it's GWB's massive budget deficits that are the cause of the drop in the dollar.

[keopeli]

5. Please put a link in the body of your post.

To do this, go to the page of the article and copy the address. Then, paste it into your post directly.

Use the EDIT feature to add the link.

Thank you!

[cosmicdot]

6. can't imagine ChevronTexaco's CEO wasn't 'in' on Cheney's 2001 Energy

Task Force ... wasn't it's mission to establish a national energy policy as our foreign policy morphed with PNAC's goals? Weren't these concerns discussed?

Recent actions by China, Russia, Venezeula, etc., must not have been projected, I reckon.

I wish CEO O'Reilly would think bigger, and outide of his limited alternative energy idea box ... if he's truly concerned. You're a CEO ... you have clout, and are one of this White House's corporate american constituents.

[applegrove]

7. I was sure I heard OPEC CUT PRODUCTION!!!

[applegrove]

8. What was that little dance Asley Simpson did when she was caught

lip-synking?

[w4rma]

9. Still no excuse for them to hike up the prices by 20% to give them a 20%

higher profit.