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Former Pres. of Shell Oil Sees $5 Gas by 2012

John Hofmeister, former president of Shell Oil, sees $5 gas ahead for Americans due to growing global demand, tighter supplies and inadequate government response.

Hofmeister also sees little or no new deep water drilling in the Gulf, at least for a couple of years.

“If we stay on our current course, within a decade we’re into energy shortages in this country big time,” said Hofmeister, who retired from Shell in 2008

Nobody knows for sure what the future will bring, but…

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