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Hess CEO sees oil crisis in the next 10 years

Tue Feb 12, 2008 12:07pm EST

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HOUSTON, Feb 12 (Reuters) - Hess Corp. (HES.N) Chief Executive John Hess on Tuesday said oil producers are not currently investing enough to ensure sufficient capacity.

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"An oil crisis is coming in the next 10 years," Hess said, speaking at the CERA week conference. "It is not a matter of demand, it is not a matter of supply. It is both." (Reporting by Michael Erman)

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