Skip to comments.Oil Companies Loath to Follow Obama’s Green Lead
Posted on 04/07/2009 1:20:41 PM PDT by reaganaut1
The Obama administration wants to reduce oil consumption, increase renewable energy supplies and cut carbon dioxide emissions in the most ambitious transformation of energy policy in a generation.
But the worlds oil giants are not convinced that it will work. Even as Washington goes into a frenzy over energy, many of the oil companies are staying on the sidelines, balking at investing in new technologies favored by the president, or even straying from commitments they had already made.
Royal Dutch Shell said last month that it would freeze its research and investments in wind, solar and hydrogen power, and focus its alternative energy efforts on biofuels. The company had already sold much of its solar business and pulled out of a project last year to build the largest offshore wind farm, near London.
BP, a company that has spent nine years claiming it was moving beyond petroleum, has been getting back to petroleum since 2007, paring back its renewable program. And American oil companies, which all along have been more skeptical of alternative energy than their European counterparts, are studiously ignoring the new messages coming from Washington.
In my view, nothing has really changed, Rex W. Tillerson, the chief executive of Exxon Mobil, said after the election of President Obama. We dont oppose alternative energy sources and the development of those. But to hang the future of the countrys energy on those alternatives alone belies reality of their size and scale.
The administration wants to spend $150 billion over the next decade to create what it calls a clean energy future. Its plan would aim to diversify the nations energy sources by encouraging more renewables, and it would reduce oil consumption and cut carbon emissions from fossil fuels.
(Excerpt) Read more at nytimes.com ...
Why should profitable and productive private companies, paying billions in taxes and employing lots of workers heed a president who has produced nothing but his own autobiography?
0 is in for a bumpy ride
should have added, He can’t fire their CEO’s!
Bambi’s energy secretary said wind could replace 3000 coal fired power plants. Riiiiight !
Ken Salazar was recently touting the virtues of offshore wind potential. He indicated that the technology was ready. I suppose he did not talk to the investors of this project.
If the energy industry is pulling out even with the enormous subsidies and threats to conventional energy production, the investment case for the green fraud must be horrible. We are being led into an energy abyss.
Last I read, electric'hybrid cars are energy negative when you calculate the extra energy it takes to build them, and charge them up.
Likewise, I've read that solar cells and wind farms are so expensive that there is no savings (negative in fact) to consumers....
I’m of the understanding that he may not have even produced that. It seems Mr. Ayers is most likely the ghost author.
What will work? There is nothing to this but hot air.
Obama's "renewable" energy program does nothing to replace middle east oil. All the wind energy in the world will not replace a drop of OPEC oil. What does it do? At best, it replaces coal and natural gas, resources we have enormous supplies of, and it replaces them at enormous cost.
It is a sham and a fraud.
Meanwhile they are doing everything they can to stymie domestic energy production, the real kind, the kind that really will replace OPEC oil. Why would that be? Because they are shills for OPEC.
Their program is designed to stunt economic growth and maintain our addiction to OPEC. That part is "working" just great.
I suppose the oil companies are next on his list of intimidation.
Yep. Put one turbine in front of Zero's mouth, and another behind Barney Frank's arse ... 3 gigawatts, easily.
Ken Salazar from COLORADO, talking about the merits of off-shore wind farms? Typical politician, talking with fake and unjustified authority on subjects they know NOTHING about.
Next thing you know Obama will pronunce himself on ... I don't know ... building cars?!?!
The wind farms require LOTS and LOTS of lubrication to make the “whirlies” go around and around.....
It is early April amd by late May get ready for the “GASOLINE SPIKE”...the refineries will be shutting down heating oil refining...have to do maintenance and PRESTO back to make Summer mixes....
Hussein is a hack.
Hard to intimidate what hasn’t been unionized...or isn’t asking for hand outs...
Remember when the DNC and their press monkeys used to find it scandalous that our president and vice-president actually knew something about the energy business?
And demanded an investigation when Cheney consulted actual energy producers about energy policy?
India and China each have populations of 1 billion people. India and China are getting online to use gasoline cars.
If man IS causing global warming, the contributions from these 2 nations will outweigh ANY savings that come from USA getting off of gasoline.
This is against American industry and interests. Man Made Global Warming is a hoax and a “crisis” that is being used to usher in “CHANGE”. Economic “CHANGE” that will cripple our nation. As designed.
If any freepers out there are looking to deal with oil, please contact me.
Oh goody..Our Resident Idiotnot content with trying to destroy the banking industry and the auto industry nowwants to destroy the oil/gas industry. By the time the Resident is done we will not even recognize America......
...or one decent volcanic eruption.
Yeah Salazar is thinking about campaign donations....from wind and solar entities....
The author of this NY Times piece, Jad Mouawad, chose the wrong adjective to describe the Obama regime's policy prescriptions. If he had wanted to write honestly, what he should have written is:
The Obama administration wants to reduce oil consumption, increase renewable energy supplies and cut carbon dioxide emissions in the most foolish transformation of energy policy in a generation.
Not yet, anyway.
Looks like Hussein will have some brand new companies to take over when he gets back.
of course they like to make a profit. I guess Obama will have to offer them federal support to keep them profitable.
wind is about 50 times more expensive per khw than coal and would need huge taxpayer subsidies
A recent study said 80 percent of wind generation must be backed up via fossil fueled generation. In Texas, the figure was > 90 percent.
wind and solar are unreliable and unpredictable. You cannot run a grid that way.
Oh really. Well then, a bailout is in order, apparently. Then, like with the mafia, you'll do whatever we say--or else.
“Bambis energy secretary said wind could replace 3000 coal fired power plants.”
And,, it will only take 3 trillion windmills to do it. Green jobs!
They don't need the Fed Nationalizers to move in and "save" them. Big Oil has been perfectly happy passing along locally mandated 'boutique' gasoline prices to the consumers, and keeping the profits to plow back into leases, and rigs, and non-union people.
You might also notice how many of the Big Oil Companies can move headquarters overseas in a heartbeat. They are perfectly willing, and can afford, to sit out The President of Crazyville's self induced financial disaster. Amazing how spending 100 years bribing Third World dictators prepares Big Oil for dealing with this White House...
Oil exploration and production has always been a cash on the barrelhead business. Oil men don't like playing financial games. Our Chicago Shyster-in-Chief may find it hard to grift and blackmail people who aren't stupid and greedy.
Maybe if the wind is biden and hussein lighting their farts live on larry king.
Doesn't need to. Cap & Trade anyone? When Brrack gets done with his green initiatives (read OVERTAXATION) the oil companies will be crying uncle. Brrack will be looking out for the children, the environment and the world.
Oil companies don't need the money for a bailout? The mob has ways of MAKING you need the money, then they own you.
Sorry to say it.
Of course not.
You've got it right. With China coming on line with gas powered cars, all the oil companies have to do is offer a discount to them to establish new markets. The citizens of this country will be walking or driving motor scooters or that ridiculous 2 wheeled motorized wheel chair GM is touting and India and China will be driving SUVs and Pick up trucks! However, as soon as we are conquered by China after we throw away our nukes, we will be able to drive gas powered cars again also!
HEADLINE: “Oil Companies Loathe To Waste Money, Unlike Obama!”