BUSINESS ABROAD: The Diplomats of Oil
(10 of 10)
Not Worried. How long will the oil glut last? At least ten years, say many oilmen, but John Loudon is more optimistic. Says he: "I personally am not worried. Oversupply will straighten itself out in time. People will need more and more oil." The competitor that no company seems to fear is new forms of energy. Though natural gas will become more and more important, most oil companies are already well represented in that field. Nuclear energy is not expected to be competitive for years. In fact, many oilmen welcome the atom as an eventual source of commercial power. Even in the midst of today's glut, they profess the fear that the world's oil resources will not be big enough to do all the jobs the future holds for oil.
* British nationals hold 85% of the shares of Shell Transport and the biggest interest (37.8%) in the combined Group. U.S. interests actually hold more shares in Royal Dutch (27.2%) than the Dutch themselves (24.9%), also hold 18.1% of Shell Transport's shares.
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