A Mistake…Yes, an Expensive Mistake

By December 11, 2007Energy

At the groundbreaking ceremonies of the expanded refinery in Port Arthur.

Dec. 10 (Bloomberg) — John Hofmeister, the head of Royal Dutch Shell Plc’s U.S. unit, called the U.S. energy policy a “mistake,” saying it helps drive up prices by limiting access to new sources of oil and natural gas.

“The point is that the U.S. energy policy that prevents more access to billions of barrels in the ground is a mistake,” Hofmeister told reporters today before ground-breaking ceremonies for the expansion of the Port Arthur, Texas, refinery. …[snip]

High oil prices are “a direct consequence of not having a strategy to develop domestic resources,” Hofmeister said.

And they call it an “energy bill.”

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