ConocoPhillips, the third-largest U.S. oil company, said opponents of fossil fuels are supporting policies that would jeopardize hundreds of thousands of jobs and make the nation’s industrial companies less competitive.
In pressing for a shift to renewable energy, people ignore that 9.2 million jobs in the U.S. are supported by oil and natural gas, ConocoPhillips Chief Executive Officer
Jim Mulva said in prepared remarks for a speech he’s giving today at Rice University in Houston. He called such opponents of fossil fuels “job deniers.”
“Every job opening at
ConocoPhillips attracts from dozens to hundreds of applicants,” Mulva said. “These job seekers know that oil and gas are here to stay, that they provide good jobs. So yes, bring on the green jobs, but in doing so, don’t destroy the real jobs of today.”
ConocoPhillips is focused on oil and gas because those energy sources are the most affordable and readily available, Mulva said. Prematurely replacing fossil fuels with “green” alternatives would put U.S. industry at a competitive disadvantage, he said.
Development of U.S. shale formations has helped push U.S. gas supplies to more than 2,000 trillion cubic feet, enough of the heating and power-plant fuel to last 100 years, Mulva said. Gas is a “game-changer” that can help spur economic recovery and job growth, he said, and the country needs an energy policy that allows greater use of the fuel.
Major Gas Producer
ConocoPhillips agreed to buy gas producer Burlington Resources Inc. in 2005, making the Houston-based company one of the largest U.S. gas producers. It’s now seventh-biggest in output of U.S. gas, according to the Natural Gas Supply Association.
Producers are counting on rising demand to help boost prices for gas, which has averaged about $4.53 per million British thermal units this year in New York futures trading. The futures hit an all-time high of $15.78 in December 2005, the day before ConocoPhillips announced its purchase of Burlington.
The outlook for gas depends in part on government policies that help shape demand, Royal Dutch Shell Plc Chief Executive Officer
Peter Voser said this month at a conference in Montreal. He said worldwide gas demand may rise almost 50 percent by 2030.
Shale formations, which are being developed in such states as Texas, Arkansas and Pennsylvania, require fracturing technology to break up rock and help gas flow. Mulva cited a report by the Massachusetts Institute of Technology saying some 60 percent of U.S. shale gas can be developed for less than $6 per thousand cubic feet. He said current prices of about $4 aren’t sustainable.
Pitch for Gas
Mulva said no other source can match gas in terms of delivering energy “quickly, cleanly and efficiently.” For example, he said, coal is hampered by railroad capacity and emissions, while renewable sources need taxpayer subsidies, infrastructure and back-up power supplies.
The U.S. moratorium on offshore drilling permits imposed after the April 20 rig explosion that triggered
BP Plc’s record oil spill has cost thousands of jobs, Mulva said. A large offshore drilling rig employs as many as 400 workers, he said.
In March, Mulva used a speech in Houston to label as “hydrocarbon deniers” people who won’t support use of fossil fuels regardless of the consequences. He said in today’s remarks that such opponents don’t acknowledge that fossil fuels are needed for food, warmth, transportation and light.
“Fossil fuels can’t be replaced by hitting a switch and hoping the renewable sources come online fast enough,” Mulva said.
. C'è la possibilità di vederlo in qualche altro sito? COmunque da quel poco che ho avuto la possibilità di leggere prospettava degli scenari non proprio esaltanti per questo business. Tra l'altro giusto oggi mi pare che Enel abbia annunciato l'uscita da questo business con relativo scorporo e cessione, mi pare a GS (Goldmann Sachs). Boh forse non c'entra nulla ed è solo un caso, ma forse no.
