The Business of America is Energy

By May 30, 2008Energy

Investor’s Business Daily today praises Exxon-Mobil for having a refreshing point of view, that is, the company is in the business of producing energy.

Speaking to reporters after the annual meeting of Exxon stockholders Wednesday, CEO Rex Tillerson shoved political correctness aside and insisted the science on climate change is not settled and “that to not have a debate on it is irresponsible” and that to “suggest we know everything about these issues is irresponsible.”

Also irresponsible is to ignore the growing energy requirements of the U.S. and world economy, hoping they will be met solely by sources such as biofuels which actually harm the environment by leading to cutting down forests and disturbing the soil to plant crops destined for our gas tanks, releasing huge amounts of CO2 in the process.

Tillerson says that “everyone agrees that notwithstanding the growth in all other options for supplying energy, renewables, nuclear, biomass alternatives, you are still going to require substantial fossil fuels to meet energy needs, and two-thirds is going to come from oil and natural gas.”

Oil sands, the Bakken formation, oil shale ….if we developed our domestic energy resources, we can meet that demand.

More at The Chilling Effect.

And speaking of the Bakken formation:

NEW YORK (Associated Press) – North Dakota’s mineral resources director says a $1.85 billion deal between two Texas companies is the biggest oil transaction on record for the state’s part of the Williston Basin.

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