New approaches and greater adaptability necessary to meet energy and climate challenges

ConocoPhillips Chairman and CEO Jim Mulva spoke at the International Petroleum Week program in London on February 18, 2009. 

Full text of speech (221KB .PDF)

Fossil fuels will remain essential for decades to come in order to bridge the gap to renewable energy and alternatives, according to ConocoPhillips Chairman and CEO Jim Mulva. Speaking to a global audience of energy professionals, Mulva addressed the challenges facing the industry.

“We now must not only supply energy, but green energy,” Mulva said. “We must help solve global warming, while meeting social needs. Energy must remain affordable, despite cost inflation.”

President Obama’s plan for a Green Energy Economy calls for one-fourth of the United States’ energy needs to be provided from renewable sources by 2025. While the need for renewable energy and lower carbon footprint is indisputable, Mulva said, the energy industry has not adequately conveyed to the public the necessity of sustainable fossil fuels. “We need to work harder at engaging with stakeholders. We must convey that fossil fuels are vitally needed to bridge the gap to the future.”

Mulva also called for collaboration with and between governments and among all companies in the industry to ensure a secure energy future.