Total, Shell Chief Executives Say `Easy Oil’ Is Gone

The days of so-called “easy oil” are over, making it harder to meet demand without complicated and expensive projects, the heads of two of Europe’s largest oil companies said today.

The International Energy Agency, an adviser to energy importing nations, estimates oil supply will have to rise 39 percent to 116 million barrels of oil a day by 2030 from about 86 million barrels a day now to meet world demand.