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 ?xml:namespace>
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.
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
ConocoPhillips is also planning a $22.5m (€16.9m) research fund at
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)
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