Friday, May 11, 2007

The Oil Guys want Renewable Energy


Oil & Gas Executives
Want Focus on Renewable Energy

In a survey oil executives indicate they want government involvement in supporting the development of renewable energy sources that they say is necessary to alleviate the problem of declining oil reserves.

The survey done in April 2007, showed 25% of the respondents said that at least 75% of government funding for energy should be directed into the renewable sources sector and 44% said that at least 50% of national funding should be allocated in the same way.
The vast majority surveyed 82% said declining oil stock were the main concern.

Even the oil and gas companies are now sending out a clear signal that intervention is needed.

These guys are keen to see renewable energy sources becoming mass produced, but some 60% say that will not be possible by 2010. Of those that believe it will happen, 18% say that ethanol is the most viable for mass production, 13% indicate biodiesel.

60% of the oil execs believe that the decline in oil reserves is irreversible.


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