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Robertson: Oil Production Prospects

Interviewee: Peter J. Robertson, Vice Chairman, Chevron Corporation
Interviewer: Lee Hudson Teslik, Assistant Editor
December 7, 2007

Peter J. Robertson, vice chairman of Chevron Corporation, discusses the likelihood that global oil production will meet demand in the coming decades. He says he thinks it’s “a real stretch” to think that the industry will be able to produce the 125 million barrels per day that a recent National Petroleum Council report said would be necessary to meet demand in 2030. He says the underlying cause, however, is not the amount of oil that’s in the ground, but rather “above the surface” geopolitical risks. He singles out a lack of investment in production capabilities in many of the world’s major oil-producing nations.

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