Petroleum Industry Calls for Renewables, Energy Efficiency, and Carbon Cost

Washington, DC (July 18, 2007)- The National Petroleum Council released a report urging the government to promote energy efficiency, encourage the production and use of alternative fuels, and to implement an economy-wide cost for emitting carbon dioxide. The report, titled “Facing the Hard Truths about Energy,” makes several policy recommendations that have traditionally not been associated with the oil industry.

“The world is not running out of energy resources, but there are accumulating risks to continuing expansion of oil and natural gas production from the conventional sources relied upon historically,” said Alan Kelly, who was ExxonMobil Corp.’s general manager of corporate planning before he was selected for this project. “These risks create significant challenges to meeting projected total energy demand.” To mitigate these risks, the report encouraged “expansion of all economic energy sources,” including coal, nuclear, biomass, renewables and unconventional oil and natural gas such as that from oil shale and tar sands, as well as moderating energy demand through increased energy efficiency.
“This report should shift the framework of the [energy] debate,” said Daniel Yergin, chairman of Cambridge Energy Research Associates and one of the authors of the report. Energy Secretary Samuel Bodman said the report would be a valuable tool for long term planning. ”These are hard facts, and hard facts require us to plan for hard choices, now and in the future… all forms of energy, traditional and alternative, fossil fuel and renewable, will be needed to meet the world’s needs…. we must aggressively pursue new energy options and alternatives,” Bodman said.
Related Resources:
CNN Money
Mercury News
Houston Chronicle
U.S. Department of Energy
National Petroleum Council