ConocoPhillips chief Jim Mulva couldn't say enough good things about natural gas today while speaking at the United States Energy Association's annual meeting, pointing out what he sees as problems with all other major energy sources, save oil.

"Natural gas is more than just a bridge fuel," Mulva said. "It is part of the long-term solution." He cited technology such as horizontal drilling and hydraulic fracturing that has enabled the industry to tap into unconventional shale gas reserves and stabilize once-volatile prices. "We foresee a century of domestic supply," he said of those reserves combined with conventional sources.

Mulva said the government should adopt a "clean energy" standard instead of a renewable energy standard, so that sources like "clean" coal, natural gas and nuclear can be included. "Let all compete on a level playing field," he said. Sen. Lindsey Graham, R-S.C., introduced such a measure in February, but it is unclear yet whether it will be included in the legislation Graham is crafting with Sens. John Kerry, D-Mass., and Joe Lieberman, I/D-Conn. Mulva didn't comment on specifics of the trio's efforts, but he did say he was "quite encouraged by how resourceful" the three senators have been so far. The senators have said they plan to release a bill during the week of Earth Day, April 22.

Mulva laundry-listed the problems he said other types of energy production pose: Renewables like wind and solar are expensive, not reliable enough and create land-use issues; the current generation of biofuels uses a lot of land and water and affects food prices; coal is too carbon-intensive; and nuclear energy increases the risk of proliferation and lacks both a viable disposal solution and public support. ConocoPhillips has no plans to invest in the renewable energy market, Mulva said. "We have everything on our plate that we need to do. We stick pretty close to the oil and gas industry."

In his approximately 20-minute speech, Mulva didn't mention the Obama administration's offshore drilling plan. Speaking with reporters afterward, he said it was "a good first step, but obviously, we're always looking for more available opportunities."

Buck