Saturday, October 27, 2007

ConocoPhilips CEO Calls For Federal Energy Strategy

The large oil companies are spending a decent amount of money in research of alternative energies - for competitive reasons, they don't have much choice. That being said, it seems that what may be holding them back from investing more and making a greater impact in the development of useful technologies is that there is unease about what the U.S. government may ultimately decide upon in terms of regulations. Oil companies know regulations are coming, so they want to know what they have to deal with before making any significant investments.

ConocoPhilips CEO James Mulva says as much in this article from BusinessWeek online, "The Trouble with Crude Oil". Mulva calls for an energy strategy to come from the U.S. government, so U.S. oil companies can better compete with foreign companies and national oil companies.

My question is whether our government can make a policy that makes sense and doesn't simply make decisions based on winning votes (can anyone say ethanol made from corn?).

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