ConocoPhillips 'Commends' Gov. Schwarzenegger's Plan for Reducing Greenhouse Gas Emissions

Energy Resource, Jan 10, 2007

ENERGY RESOURCE-10 January 2007-ConocoPhillips 'Commends' Gov. Schwarzenegger's Plan for Reducing Greenhouse Gas Emissions(C)2007 JeraOne - http://www.jeraone.com

ConocoPhillips today said it "commends" California Gov. Arnold Schwarzenegger's plan to tackle "the important issue of climate change."In a statement released today, the oil company said, "We have not yet seen the full details but we understand that this latest element of the Governor's plan focuses on increasing the proportion of low carbon fuels in the transportation fuels pool.

"ConocoPhillips is supportive of and invests in technology development to produce and enable the use of low carbon fuels and recognizes that this is one component in a suite of actions necessary to reduce the concentration of CO2 in the atmosphere. Others include CO2 sequestration, energy efficiency and raised vehicle standards that achieve more miles per gallon.

"We welcome the opportunity to work with the Governor and his team to achieve a practical implementation plan that leads to real savings of CO2 across the production and use lifecycle, supports equitable competition between fuel producers and avoids unnecessary erosion of economic value."

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