ConocoPhillips (NYSE: COP), one of the nation’s largest energy producers, announced on Wednesday plans for a countrywide natural gas campaign.
ConocoPhillips wants to persuade policymakers and U.S. consumers that increased natural gas production can provide energy savings and more job opportunities.
The company has launched the website, www.powerincooperation.com, to run print and web advertisements on behalf of natural gas. The campaign, like the site, has been titled “Power in Cooperation”.
Jim Mulva, the CEO of ConocoPhillips, runs one of the largest gasoline refining outfits in the world, but fully promotes the use of electric cars and natural gas as means of fuel for transportation. He knows it’s the future.
In a speech given by Mulva he says, “We are building a strong American job-creation machine, and natural gas is an important part of that future. We have ample reserves here. We can access them in a safe and environmentally-sound way. And these resources are generating new jobs, by the tens of thousands.”
Natural gas is cheaper and more available than oil. With oil’s price getting more expensive and extraction of it becoming harder, it’s time to look towards the use of natural gas. Policymakers are liking the idea of natural gas more since it would provide a way to reduce the amount of imported crude.
ConocoPhillips would at least like to see natural gas used as fuel for power plants and fleet vehicles.
On Wednesday natural gas prices closed at $4.039 per million British thermal units, an increase of 5.9 cents. The prices have been low for years though.
ConocoPhillips is looking to invest in North American natural gas fields while the prices remain low. “The price of natural gas does not support continued drilling exclusively for natural gas, although we retain the acreage and the opportunity to drill and add to future supply in the coming years,” Mulva said in an interview with the Houston Chronicle.
Environmentalist groups are not as supportive of the natural gas efforts. They fear that the shale extraction used to obtain the natural gas will pollute underground water supply.
Until next time,
Cori
