My former CEO Jim Mulva spoke today at the National Summit in Detroit, and had some newsworthy comments. Bloomberg reported on his talk:R-Squared has the link to Mr. Mulva's thinking on prices in the same post.
Conoco Chief Says Replacing Oil May Take a CenturyJune 16 (Bloomberg) -- ConocoPhillips, the third-largest U.S. oil company, said it may take a century for the nation to replace fossil fuels with alternative energy sources.I don't know of too many people who think we have a century's worth of oil left. Natural gas and coal? I also seriously doubt we have that much of either of those, especially allowing for economic growth. What I think this means - in any case - is that we have some potentially difficult times in front of us. However, Mulva went on to give his prescription for preempting some of those difficulties...MORE
Wednesday, June 17, 2009
Conoco Chief Says Replacing Oil May Take a Century. And: Oil Prices Ahead of Fundamentals (COP)
From R-Squared Energy blog: