Posted on 03/04/2014 5:33:52 PM PST by 2ndDivisionVet
Relying on shale gas would be a “very expensive” solution to meeting the world’s growing demand for energy, the chief executive of BHP Billiton, the mining, oil and gas group, has said.
Andrew Mackenzie, who took over at BHP last year, also called for a price to be put on greenhouse gas emissions to address the threat of global warming, and said the mining industry needed to do more to develop technology to capture and store carbon dioxide.
Speaking to the Financial Times in Houston, Mr Mackenzie said it was “completely impractical” to suggest that shale gas could be the sole answer to providing affordable energy for the world while cutting carbon emissions.
“We have to be a little cautious about extrapolating the US experience to the rest of the world,” he said. Outside North America, shale reserves were still unproven and required much more testing and development, he added.
“It’s not particularly helpful to talk about how all our problems can be solved by something that is a very expensive solution for most countries.”(continued)
(Excerpt) Read more at ft.com ...
One can't help but wonder how long he will remain at BHP, it doesn't sound like he has the stockholders interest at heart.
This is how out of touch our elites are. They’ve forgotten that capitalism is what got them there. Or, perhaps, it was crony capitalism in his case.
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