John Hofmeister, former President of Shell Oil and CEO of Citizens for Affordable Energy, will be joining the Fuel Freedom Foundation Advisory Board.
Fuel Freedom is a non-partisan, non-profit organization dedicated to breaking America’s oil addiction by opening the fuel market to allow replacement fuels like ethanol, methanol, natural gas and electric vehicles to fairly compete with gasoline at the pump.
Hofmeister will be joining an advisory board that includes former Central Intelligence Agency Director, Jim Woolsey, former Rockefeller Foundation President, Peter Goldmark and Co-Director of the Institute for the Analysis of Global Security, Gal Luft.
Fuel Freedom said that as Shell President, Hofmeister launched an extensive outreach program, unprecedented in the energy industry, to discuss critical global energy challenges. He brings a unique perspective on the oil industry, with over 35 years of experience holding key leadership positions in various Fortune 500 companies.
“Since my retirement from Shell, I have focused a large portion of my time and efforts on educating the public regarding our nation’s dire situation as it relates to oil and the future of energy, specifically transportation fuels. We can’t sustain our transportation needs in the current situation, demand is growing on a global scale, while supply is becoming more and more expensive, and this trend will not stop,” said Hofmeister. “Do we have enough oil to meet demand? Yes. However, not cheap oil. The price of oil, and therefore gas, will continue to grow at crippling rates, because we don’t have enough cheap oil to meet demand inexpensively. This is why I decided to join the Fuel Freedom campaign, they are doing something about these issues, and it complements well my efforts to educate the public and policy makers about pragmatic, non-partisan and affordable energy solutions, including replacements to gasoline and diesel.”
The foundation said abundant, domestic and cost-effective supplies of natural gas, together with ethanol, methanol, and electric vehicles could enable American consumers to pay $2 a gallon for fuel if outdated regulations and commercial barriers to competition were removed.
According to the foundation, most new cars would require relatively minor upgrades to become flex-fuel cars, and modifications for as little as $100-300 would allow vehicles to optimize replacement fuels such as methanol and ethanol.
“We need a competitor for oil. We need to open the market to replacement fuels like methanol, ethanol and natural gas. Competition will drive transportation fuel prices down, structurally and sustainably. These fuels are well within our reach, we can implement them into our existing system without the need to wait twenty years for fleet turnover,” said Hofmeister. “Fuel Freedom’s approach to opening the fuels market by breaking the oil monopoly is America’s next giant leap forward. It promotes innovation and entrepreneurship, creates new American industry, with new American jobs.”