NewEnergyNews: OIL KINGS DISS NEW ENERGY

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    Tuesday, June 26, 2007

    OIL KINGS DISS NEW ENERGY

    True enough, New Energy is not the whole answer to the energy crisis. Of course, the climate change crisis cannot be solved by fossil fuels, either. So the obvious answer is cooperation and co-development. Forget the I'm-right-you're-wrong way of thinking and start thinking about solutions! Everybody pulling together. Good for the economy, good for the environment. Win-win. Crises averted...It COULD happen...

    Energy crisis cannot be solved by renewables, oil chiefs say
    Carl Mortished, June 25, 2007 (Times of London)

    WHO
    Jeroen van der Veer, CEO, Royal Dutch Shell; Rex Tillerson, CEO, ExxonMobil
    demand is out of hand, no doubt about it...(click to enlarge)

    WHAT
    Both CEOs agreed there is a rising gap between world energy demand and supply and renewables alone cannot fill it.

    WHEN
    Public statements made the week of June 22.

    WHERE
    - van der Veer’s statements were in a written piece for the Times of London.
    - Tllerson’s remarks were made in a talk at London’s Chatham House (Royal Institute for International Affairs ) think tank.

    WHY
    - van der Veer asserted there is widespread public opinion that renewable energy can replace fossil fuels. He warned that conventional oil/gas suply would not meet rising energy demand and called for energy efficiency. He predicted increased use of coal and higher greenhouse gas (GHG) emissions. He said renewables will provide no more than 30% of world energy by 2050, even with major technical breakthroughs.
    - Tillerson predicted a 45% rise in energy demand by 2030, driven by developing countries. He said oil, coal and natural gas were the only energies scalable to demand and even oil was failing, due to the cutoff of middle east supplies and a failure of new technology. He was skeptical of biofuels and said he prefered a carbon tax to Europe’s cap-and-trade system.
    ...but there are smarter ways and more destructive ways to deal with it. (click to enlarge)

    QUOTES
    - van der Veer: “Contrary to public perceptions, renewable energy is not the silver bullet that will soon solve all our problems…”
    - Tillerson: “The supply outlook for nonOpec countries will be modestly up or flat…Just when energy demand is surging, many of the world’s conventional oilfields are going into decline…[Cap-and-trade is] all about moving the money around…”

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