Chosun llbo, South Korea
04-12-07
ConocoPhillips Accepts Climate Change, Develops Alternative Fuels
ConocoPhillips, the fifth largest oil company in the world, is taking steps to
address the problem of global warming, the first major US oil company to do so.
The company is implementing programs to develop alternative fuels and to
reduce emissions of greenhouse gases.
In an statement released this week, ConocoPhillips announced it has joined the
US Climate Action Partnership, a coalition of corporations trying to address the
problem of climate change. The company also calls for legally binding caps on
emissions of gases that many scientists say cause global warming.
James Mulva
In a recent meeting with reporters at Rice University here in Houston,
ConocoPhillips Chief Executive Officer James Mulva made it clear that his
company was joining the move to address climate change.
"We are doing this because we believe in it," said James Mulva. "We must
recognize climate change and incorporate it into our facilities and our investment
program."
ConocoPhillips is one of the five major international companies sometimes
grouped together as big oil and blamed by many environmental activists for
opposing efforts to address climate change.
Dallas-based Exxon-Mobil, the world's largest oil company, remains strictly
focused on petroleum and has funded research that questions the human impact
on global warming, but the other members of the big oil club, California-based
Chevron, London-based BP and the Hague-based Royal Dutch Shell have
already begun programs to develop alternative fuels, including renewable fuels
like ethanol and biodiesel.
ConocoPhillips has doubled research spending on alternative energy to $150
million and has invested an equal amount in methods of capturing carbon dioxide
emissions. The company is also funding a $22-million project at Iowa State
University to develop bio-fuels over the next eight years. CEO Mulva says
alternative fuels are unlikely to replace most of the gasoline used in vehicles, but
they could be part of a more diversified mix of fuels.
"Gasoline, obviously, is a superior transportation fuel," he said. " It is efficient, it is
available. But, what we do need to do is develop all sources of alternative
energy. It is relatively small at this time and even with dramatic improvement will
continue to represent a relatively small portion of our energy source, 10, 20, 30
years from now, but we do need to develop the alternatives, renewables and
other sources of energy."
But, above all, Mulva says, consumers in the United States need to reduce the
amount of energy they are wasting.
"We need to conserve and make far more efficient use of our energy," he said.
"The United States, I think, we have essentially about four percent of the world's
population and we use 25 percent of the world's oil resources. Obviously, we can
be far more efficient users of energy."
Environmental groups agree with that assessment, but many of them favor
stronger measures than those being undertaken by ConocoPhillips. Groups
advocating government action to curb greenhouse gas emissions say the
company still lags behind companies like BP and Shell that have aggressively
developed alternative energies that produce significantly less carbon pollution.
Among the fuels ConocoPhillips views as alternatives to petroleum are such
things as oil sands and oil shale, which are fossil fuels and produce the same
amount of carbon emissions as oil.