The Chief Executive Officer (CEO) of Total, Christophe de Margerie has told the BBC that the world could soon face a shortage of oil because of underinvestment in the industry. Mr. de Margerie warned that too little had been spent in trying to tap into new oil reserves because of the current economic crisis. “If we don't move now, there will be a serious problem in two or three years,” Mr de Margerie emphasized. He further revealed that oil prices could rise to more than $100 per barrel from its current level of around $70, stressing, “The reserves of oil are there, but if you don't invest they would not come on the market. “We have to decide for 2010 to 2015, so in between the time we might be faced with insufficient oil. He confirmed that the major oil producing countries had cut production in the face of falling demand to protect prices. “You cannot ask these countries who are also facing economic crisis to invest for a potential recovery of demand and to do so for the benefit of the world,” he added. Instead, he called on heads of governments to get involved, adding, “I think it is our duty to force leaders of the world to think about this problem.