Energy Policy Speech

Energy Policy Speech - Energy Policy Speech Bridging the...

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Energy Policy Speech Bridging the Gap to the Energy Future Speech to U.S. Chamber of Commerce Jim Mulva, Chairman & CEO, ConocoPhillips July 19, 2007 Ladies and gentlemen, thank you for being here today. I am very pleased to have the opportunity to provide my thoughts on the energy situation – and to offer ideas on what our American policymakers should do to enhance future energy security. I want to say first that, despite the current tight market, the world is not short of energy potential. For many years in this country, we have been blessed with abundant resources. Our use of them has been less than prudent. But there are still enough resources available to build a secure energy future for our children and grandchildren. That is, if we make the right choices today. However, making these choices will require strong political leadership and determination, as well as sound insight into the realities of the energy market. We can no longer take energy for granted. In fact, we need no less than a national commitment to achieve security of both near- and long-term supply. We need policies that outline a clear path to follow. And let me preface my next statement by saying up front that I clearly represent what is considered a special interest here in Washington – the oil industry. So it is with great care and purpose that I say … that we need leadership that looks beyond the wishes of special-interest groups and instead chooses to address the needs of American citizens. The energy cupboard is not bare. We have the resources to bridge the gap until cleaner-burning fuels and alternative sources can provide a meaningful share of our energy. But in the meantime, we must act with courage and forethought. I’ll share my ideas on the fundamental elements of a successful national energy policy. Fundamental elements of policy There are many opinions on how to meet our future needs. But there is no silver bullet. There is no single source that would replace hydrocarbons at a lower cost and with no environmental impact. Our legislators need to acknowledge that fact.
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It is not just me saying this. Most authoritative sources, including the Department of Energy, recognize that fossil fuels will still supply 85% or more of our energy in 2030. That’s because hydrocarbons are the primary sources capable of meeting demand at the scale required. And even at today’s prices, they are still the lowest-cost sources available. Our legislators must also acknowledge that energy is a global business that requires global solutions. We must cooperate with the exporting nations. This is essential for energy security, as well as to provide a future path to any meaningful impact on the world’s carbon emissions. We must not act in isolation. And our legislators must acknowledge that we live in a world that is increasingly competing for
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Energy Policy Speech - Energy Policy Speech Bridging the...

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