Shell forecasts not enough oil and gas to meet demand

Shell recently released a set of energy scenarios and forecasts a time of volatility and intensified economic cycles. The report suggests that by the end of this decade, the supply of oil and gas will not meet the growth in demand. Also projected in the report is that the production of coal and biofuels will not be sufficient to resolve the energy supply problems. There is no “silver bullet” on the horizon to solve the world’s energy needs, according to Shell. China and India’s continued material development, along with a tighter market, will put additional pressure on prices and lead to greater volatility in the market, according to the report. (February 21, 2011)