Conoco Phillips CEO on Oil, Cap-and-Trade

Glick Report (Jun 17 2009) Cap and Trade , Carbon Tax , Emissions , Fossil Fuel

1. With oil prices holding steady around $70 I sat down with Conoco Phillips CEO James Mulva to discuss commodities and what needs to be included in any cap-and-trade legislation. Mulva says the increase in crude prices are based on expectations of the economy stabilizing soon.”There are some indications, not only in our own country, but in the world that we are starting to work toward and that’s good, that gives confidence.” The company had to cut workers and put projects on hold in the face of the downturn, but he said they are in a long-term business and are prepared to get through economic cycles. “We continue to invest in the long-term, but it doesn’t really change our long term strategy.” We also hit on the proposed cap-and-trade legislation and the Waxman-Markey American Clean Energy and Security Act. Mulva said the Waxman bill favors some industries over ... (Read Full Article)

   Bookmark or Share this article

Login to comment.

Related Articles