CEO group advocates that US acts to secure bright energy future

25 February 2013 22:38  [Source: ICIS news]

HOUSTON (ICIS)--A group of CEOs from leading US companies urged the federal government on Monday to seize upon America’s emerging energy advantage to provide a stable and prosperous future.

The Business Roundtable, an association of CEOs such as Andrew Liveris (Dow Chemical), David Cote (Honeywell), Rex Tillerson (ExxonMobil) and John Watson (Chevron), said in its Taking Action on Energy report that America’s energy future “is exceptionally bright” and has improved markedly because of a confluence of factors, not least of which is its shale gas and oil boom.

The group called on the US government to establish a “coherent, forward-looking energy policy framework” and to do away with the “patchwork of subsidies, mandates and regulations” of the past.

The Business Roundtable listed six guiding principles towards advancing the goals of economic growth, energy security and environmental stewardship.

According to the group, energy policy should foster innovation, encourage competition and energy resource diversity, empower consumers, engage internationally, ensure smarter regulation and fortify critical infrastructure.

The report calls for an all-of-the-above energy strategy for power generation, including clean coal, nuclear, wind and solar. It states that wind and solar power production costs have decreased in recent years and should continue to do so in the future.

Taking Action on Energy also advocates both private and public investments into the country’s energy infrastructure and power grid.

“Affordable energy is now America’s competitive advantage, and a secure energy future is within our grasp,” Liveris wrote in the report. He added: “We must continue to develop our conventional resources and use them wisely while we apply our unparalleled innovative capacity to bring new energy sources to market.”

By: Jeremy Pafford
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