[Ost-news] Shell Claiming "Psychology" Driving Oil Prices; Aim to ramp up Tar Sands Production 5 times

[Oil Sands Truth: Shut down the Tar Sands - social and environmental impacts of tar sands heavy oil projects across North America]

Shell Chief Says `Psychology' Boosting Oil Prices 

By Sonja Franklin

Sept. 12 (Bloomberg) -- Royal Dutch Shell Plc Chief Executive Officer Jeroen van der Veer said there is sufficient crude oil supply in global markets and that prices are driven by speculation.

``The supply and demand is pretty OK,'' he said at a briefing with reporters in Calgary today. ``What we do have is a lot of psychology in the price. We have to expect volatility in the oil price due to this psychological component.''

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    [1]: http://oilsandstruth.org/shell-claiming-psychology-driving-oil-prices-aim-ramp-tar-sands-production-5-times

URL: http://oilsandstruth.org/shell-claiming-psychology-driving-oil-prices-aim-ramp-tar-sands-production-5-times