Oil giant supports greenhouse gas curbs

The list of companies that support mandatory curbs on greenhouse gas emissions now includes oil giant ConocoPhillips.

{mosads}Jim Mulva, Conoco’s chairman and CEO, told reporters Tuesday that the company had joined the United States Climate Action Partnership, a coalition of environmental groups and companies like DuPont, General Electric and BP American that support the development of federal greenhouse gas regulations. The company asked reporters not to reveal this information until Wednesday morning.

{mosads}Mulva didn’t endorse any particular climate-change bill, even though several have been introduced this Congress. But he described the science behind global warming as “quite compelling,” and said his company was committed to supporting alternative energy sources to supplement oil production.

ConocoPhillips has already begun to incorporate the potential long-term cost of carbon into its capital spending plans, Mulva said. Its internal goals include improving energy efficiency at its U.S. refineries by 10 percent by 2012. The company is also developing greenhouse gas emissions targets, according to a news release.

Mulva did express concern about the auto industry’s push to win support for the development of E-85, a fuel mix that is 85 percent ethanol. He said the fuel remained untested for widespread use.