ConocoPhillips joins call for mandatory climate laws

11 April 2007 17:18  [Source: ICIS news]

TORONTO (ICIS news)--ConocoPhillips has joined a business group that is pressing for mandatory action to reduce greenhouse gas emissions, the US oil and chemicals major said on Wednesday.

 

The Houston-based company said it is backing the US Climate Action Partnership (USCAP), a business and environmental group that urges quick enactment of strong national legislation to require significant reductions of greenhouse gas emissions.

 

USCAP's members include BP, DuPont, General Electric and other major industrial and energy companies.

 

A US mandatory national framework should be linked to international programmes to achieve meaningful reductions in global greenhouse gas emissions, ConocoPhillips CEO Jim Mulva said in a statement.

 

The company, for its part, is working to build the cost of carbon into its capital spending plans and it aims to improve energy efficiency by 10% at its US refineries by 2012, it added.

 

ConocoPhillips is also planning a $22.5m (€16.9m) research fund at Iowa State University to help finance research into bio-renewable fuel technologies, it said.

 

The company is particularly interested in technology that converts biomass to fuel through fast pyrolysis, it said. The process uses heat, but no oxygen, to decompose biomass into a bio-oil that can be used as heating oil or further processed into transportation fuel.

 

($1 = €0.75)

By: Stefan Baumgarten
+1 713 525 2653

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