The CEO of the French national champion Total Christophe de Margerie has always been a very interesting character in the Russian energy market – also one of the only ones boasting a successful deal (so far) with the government on the very confusing Shtokman Field deal. With his long-standing bribery issues seemingly behind him, Margerie has turned Total into one of France’s most valuable companies – and oddly, he is a peak oil believer. In this news clip, de Margerie discusses high oil prices in the short- and long-term, and shares some interesting if not controversial views on the industry. For a better constrasting breakdown of what’s driving prices (it’s not exactly supply shortages or speculators), Ed Crooks has a very intelligent article in the recent FT Energy Report, which I have excerpted below.