U.S. Energy Needs

U.S. Energy Needs

John Hofmeister

10.2.2006

John Hofmeister

John Hofmeister was named president of Houston-based Shell Oil Company in March 2005. Hofmeister has held key positions in General Electric, Nortel and AlliedSignal (now Honeywell International) in addition to Shell. In his current role, Hofmeister heads the U.S. Country Leadership Team, which includes the leaders of all Shell businesses operating in the United States. Hofmeister currently serves on the boards of the American Petroleum Institute, the United States Energy Association, the National Association of Manufacturers and has been recently appointed to serve on the Department of Energy’s Hydrogen and Fuel Cell Technical Advisory Committee. He is currently President and CEO of Citizens for Affordable Energy.

John Hofmeister, President of Shell Oil Co., provides his assessment of U.S. energy needs and how best to meet the increasing energy demands of the 21st century in a speech to Clinton School students. Hofmeister argues that the future strength of the U.S. economy depends on the country’s “energy future.” He states that industrializing nations like India and China are competing with the U.S. for energy needs; and this coupled with the depletion of reserve production capacity of OPEC and strong economic growth of the EU, means the world is using more oil than ever before. Hofmeister adds that “any day of the week, the global supply-chain can be disrupted by terrorists.” He looks toward the exploration of new oil reserves on American coastlines and in the Alaskan wildlife reserves to create more jobs. He also discusses the importance of biofuel production and specifically the need for further development of technology that can create cellulosic ethonal from corn stalk and not corn kernels