Total CEO Says Get Used to High Oil Prices

Total CEO Says Get Used to High Oil Prices

The CEO of France’s Total SA says consumers should get used high oil prices, seeing no letup in high prices any time soon.

“The price of hydrocarbons will stay high for a long time,” said Christophe de Margerie, adding, “There will not be any more oil at the end of this century” than there is now.

With oil prices topping $135 a barrel last week, he said, “We have touched the top, I hope it will go down.”

He insisted that the high prices are linked to oil production and reserves, not market speculation.

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