4 January 2010
BP: Put a price on carbon
A price on carbon is the "missing link" in the world's quest to increase energy efficiency, reduce emissions and develop alternatives to hydrocarbons, accoridng to BP's chief executive
Addressing delegates at a conference in India, Tony Hayward said such a carbon price should apply equally to all carbon, "whether from a smokestack or a tailpipe". Carbon pricing would make "energy conservation more attractive and alternative energy more cost competitive". It would also allow "informed investment" in technology and fossil fuels, which will continue to dominate the energy landscape for decades, Hayward said. "Plans for a US cap-and-trade system are before Congress. Australia also has a system under development. We now need moves at the global level to strengthen, extend, and ultimately link these systems." Hayward extended this plea to other areas or regulation, saying that t
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology