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Oil May Push Past $100 a Barrel in 2016: Hofmeister

John Hofmeister, former U.S. president of Royal Dutch Shell Plc and founder of Citizens for Affordable Energy, talks about why he thinks many analysts are underestimating the oil market.

John Hofmeister, founder of Citizens for Affordable Energy and former U.S. president of Royal Dutch Shell Plc, talks about the outlook for oil production and prices. He speaks with Betty Liu on Bloomberg Television's "In the Loop."