PALO ALTO, California #Reuters# – David O’Reilly, the former head of Chevron Corp #CVX#, believes the United States will be importing oil for at least the next two decades despite a recent surge in domestic production from newly developed shale basins.
While O’Reilly was upbeat about the potential for supplying enough natural gas and coal for U.S. electricity, he said the country should worry about its transportation system given its reliance on oil – barring a technological breakthrough.
via Chevron ex-CEO sees U.S. oil imports for next 20 years – Yahoo! Finance.