Oil industry urged restraint on expansion despite high prices
Energy executives argue against rushing to drill more wells or expand refineries amid a supply crunch and record profits. Shell's John Hofmeister said a surplus of supply or demand is not desirable and noted talks on boosting capacity at U S plants. Analysts warn investments must be commercial, not a response to political pressure, as lawmakers push mergers of price relief and energy security.
MENTIONED IN THIS ARTICLE
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Shell Oil Co
John Hofmeister
Hofmeister
Washington
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Ies
Saudi Refining Inc
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Chuck Schumer
D-N.y
Bush
Samuel Bodman
Bodman
U.S
Wall Street
John Felmy
American Petroleum Institute
Lawrence J. Goldstein
Petroleum Industry Research Foundation
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