Environment of uncertainty for energy producers

Chron.com - November 06, 2008 

Read Full Article: Retired Chevron exec: Energy giants face uncertain times | Energy | Chron.com - Houston Chronicle

A new US president, a weak economy and volatile oil markets give oil and natural gas producers some real challenges as they consider new and expensive projects in an uncertain environment, a retired top Chevron executive said Thursday. Donald Paul, retired chief technology officer for the oil giant, told energy executives at a conference in Houston that the industry faces significant events, from crude’s unprecedented highs last summer to shifts in the political environment.

That environment, with Barack Obama moving to the White House in January, means more emphasis on managing carbon dioxide emissions and diversification in energy sources, particularly alternatives and renewables, Paul said. “They have some very smart people on their team,” he said after a panel discussion of energy’s postelection outlook. Paul now is head of Energy and Technology Strategies, an advisory firm, and senior adviser to the University of Southern California’s Energy Institute.