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IHS CERAWeek: Oil execs "go green" to speed up regulations

Wednesday, Mar 06, 2013 - 02:58

Mar 6 - BreakingViews' Christopher Swann says oil executives at the IHS CERAWeek conference are focused on rebranding themselves as environmentally friendly, partly in hopes to speed up regulatory processes.

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I -- says there are we the big energy conference in Houston Texas. CEOs here are touting their green credentials. Breaking news this one is that they Chris is accusing him normally think about green and big oil but wearing a lot of that -- you sent. I don't I'm BP. Named -- for its huge oil spill has been touting its green credentials and and particularly yen. Its investments in renewable but I think the biggest banks that they had saved. -- the course of the conference. If they're actually contributing to a reduction in greenhouse gases. And and and that's rather surprising -- makes people Americans actually think it's greenhouse gas emissions going down about 13% since that 2007. The main reason for that is that they mean shale production expertise to -- natural gas much much cleaner than coal that is in its place. What other CEOs are making comments like well a -- -- -- Saatchi has been. I'm making the point that really America American oil companies need to take credit. For some of the environmental. Improvements have been making. The executives from the oilsands projects which. Perhaps some of the dusty instantly in the wild animals they've been. -- talking about the black and making to reduce their environmental footprint. So -- green is the new black but what state political mindset behind this mail what's the -- branding all of will the oil companies have a massive wish list from Washington. And I'm being perceived as huge horrible environmental villains is extremely unhelpful in the political debate. Take for stuff they want to speak pipeline built for him and keystone X now. He wants thank you -- issuance of licenses to export natural gas they want him to export crude oil which is essentially been planned for about a hundred days. Think the green of their perceived to be the more -- to get that -- Washington at least that's. Man that sense -- -- another big thing here has been North American energy independence. Who benefits and that was the winner if this indeed. Because if he -- -- the the oil companies benefit from the fact that they've just discovered a huge bonanza. Casts. And oil meaning the United States which is which has several benefits and festivals the United States is unlikely to have a revolutions is incredibly stable. The tax rates the predictable the United States -- a great place for an oil company to operate. But of course the other big beneficiary is the American economy the American people -- to me in oil and gas that is causing big said in employment and said. North Dakota terrific complex has a budget set us. -- quite bad things absolutely breaking news correspondent Chris thanks. I'm Rhonda schaffler -- Reuters.

IHS CERAWeek: Oil execs "go green" to speed up regulations

Wednesday, Mar 06, 2013 - 02:58

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