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Industry, government must team on energy, execs say
![]() Associated Press Abdallah Jum’ah, president and CEO of Saudi Aramco, gives the opening address Tuesday for CERA (Cambridge Energy Research Associates) Week 2008 in Houston. Despite rising international concerns over energy and climate, the world continually deals with these issues through “uncoordinated approaches,” James Mulva, chairman of oil giant ConocoPhillips, told a gathering of industry executives, academics and analysts Tuesday. Meanwhile, Mulva said, “the U.S. has missed opportunities to show leadership because it lacks a coherent approach to either problem.” Mulva’s remarks came at an annual energy summit sponsored by Cambridge Energy Research Associates, a Massachusetts-based consultancy. As executives gave their takes on the state of the industry, a theme arose: how do companies such as ConocoPhillips continue to find and produce hydrocarbons to meet growing global demand while also trying to reduce emissions that some scientists say are heating the atmosphere like a greenhouse? As a start, Mulva said, the U.S. needs a strong, mandatory national framework to manage carbon emissions. “Federal legislation may be just a year or two away, so the train is leaving the station without the industry on board,” he said. “Why should we care? Because we have a responsibility to provide sustainable energy, and rising concerns over climate change are likely to seriously constrain our ability to do so.” Earlier, Abdallah Jum’ah, president and chief executive of the state-controlled Saudi Arabian Oil Co., said global warming deserves the industry’s “most serious attention.” But he said exploring for and producing fossil fuels remain vital because, for now, “alternatives are simply not ready to shoulder the load, nor will they be in a position to do so anytime soon.” Mulva said oil companies should have a seat at the negotiating table, along with lawmakers, academia and others. The industry also must realize it has to change the way it provides energy, such as using more low-carbon and renewable fuels. ConocoPhillips has said it’s focused on finding ways to produce ethanol, an alternative already in use, and renewable diesel fuel more efficiently. It also has committed to improving energy efficiency at its U.S. refineries by 10 percent by 2012. Globally, Mulva said, the U.S. and other nations also need to create a mandatory framework that sets a value on carbon avoidance. |
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