Replies to This Discussion

Permalink Reply by intrepid on February 16, 2010 at 14:30

ConocoPhillips and BP today announced they were pulling out of the U.S. Climate Action Partnership, a powerful alliance of businesses and environmental groups that has backed anti-global warming legislation on Capitol Hill.

USCAP was instrumental in shaping the climate change bill that passed the House last year and lobbying for a government giveaway of valuable carbon dioxide emissions allowances designed to soften the business costs of complying with a new nationwide cap on greenhouse gases.

But oil industry leaders have complained that the House-passed bill would only donate 2 percent of those emissions allowances to refiners -- an amount that would only cover about half of the annual emissions from the refining process, much less the emissions produced when consumers burn their fuels in cars, trucks and planes. All told, refiners would ultimately be responsible for 44 percent of U.S. greenhouse gas emissions, according to the American Petroleum Institute.

That was a major factor in ConocoPhillips' pullout, according to Jim Mulva, CEO of the Houston-based company.

"House climate legislation and Senate proposals to date have disadvantaged the transportation sector and its consumers, left domestic refineries unfairly penalized versus international competition, and ignored the critical role that natural gas can play in reducing (greenhouse gas) emissions," Mulva said.

• ▶ Reply

Permalink Reply by Keith Mauck (Site Publisher) on February 16, 2010 at 14:37

I bet they were looking for the first opportunity to do this....

• ▶ Reply

Permalink Reply by sesport on February 16, 2010 at 18:19

re. BP

Would this be because they're our bread & butter, or because we're their bread & butter? See Oil & NG Production section beginning on document page 38 showing records from 2004-08.

http://www.bp.com/assets/bp_internet/globalbp/STAGING/global_assets...

80)

• ▶ Reply

Permalink Reply by sesport on February 17, 2010 at 13:44

With BP, it seems like we're in a position of favorable leverage to negotiate what's in the best interests of the US and its citizens.

80)

• ▶ Reply

Permalink Reply by Lrb2brnot2b on February 17, 2010 at 15:48

Sesport. are you saying that what might be in the best interests of the US and its citizens might be a right wing approach? An approach that might make sense for a change? Like drill baby drill? Produce our own energy and get out of the foreign arm-lock? Just what are your ideas of "Best Interests" ???

• ▶ Reply

Permalink Reply by sesport on February 17, 2010 at 16:09

IMO, BP-Amoco played nicely in the sandbox in 2000.

http://www.ftc.gov/opa/2000/04/bpamoco1.shtm

80)

• ▶ Reply