Exxon Mobile CEO Doubts Obama’s Plan to Double Renewables
Responding to Obama’s declaration that the U.S. should double its renewable energy generation from 7% to 14% in three years, Exxon Mobil CEO Rex Tillerson said on Thursday that this would probably not happen. Tillerson explained:
“I think that’s going to be very challenging to do. I’m not wanting to be critical of his aspirational goal. Aspirational goals are good because they challenge us all to go out and find the right answer. [But] let’s be realistic about timeframes. Let’s not fool ourselves.”
He also added that the U.S. does not have the capacity to double biofuel output in that time period, nor is there enough manufacturing capacity in the world to build the needed wind turbines to meet Obama’s goal.
Fortunately for Obama, however, Tillerson is currently in charge of an oil company. While he may have unique insight into energy production and management, he clearly has a different set of interests in mind. His inherent conflict of interest, while of course not as extreme as this situation, still must effect his outlook. But with that said, we will be interested to see what other energy experts say about Obama’s goal. After all, it will be these private leaders who will execute any governmental plan.
On another note, Tillerson indicated that eventually he would prefer a straight carbon tax over a complicated cap-and-trade system. He feels a carbon tax would more accurately reflect the cost of carbon, instead of an unreliable “Wall Street of emissions brokers” that would required for a contrived trading system.
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Comments
One Comment on Exxon Mobile CEO Doubts Obama’s Plan to Double Renewables
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Jenifer on
Fri, 9th Jan 2009 9:49 am
I think you’re taking it too easy on this one. Exxon markets itself as being pro-alternative fuels, etc.
If that was really the case, their CEO would be a cheerleader for Obama’s ambitious plan instead of being Debbie-Downer.
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