Oil prices will remain volatile but aren't likely to spike as
much as in 2008, the chief executive of Anglo-Dutch oil major Royal
Dutch Shell PLC (RDSA) said Friday.
"We will see [a] volatile price environment." Peter Voser said.
"We will see spikes up and down....[but] we won't see a repeat of
2008, when it spiked enormously up," he said in an interview with
Bloomberg TV at the World Economic Forum in Davos, Switzerland.
Voser also said that five large Dutch companies, including Shell
and Unilever NV (UN) have joined together to make a "plea to Europe
to get their act together."
He also warned that the wave of regulation spreading through the
financial sector is starting to seep into the industrial
sector.
"The whole regulation wave, which is a reaction [to the
financial crisis]...is now starting to get to the industrial side
and this isn't going to be competitive" for industry, he said, and
will mean more business and investment moving abroad.
"This is about growth, jobs," rather than regulation.
-Newsdesk, Dow Jones Newswires; +44 20 7842 9330
Website: www.weforum.org