Business Roundtable Backs Voluntary Energy Targets
Washington, DC, June 22, 2006--Business Roundtable today released a national action plan on energy, urging the collective establishment of voluntary, measurable national targets for increased conservation of petroleum and natural gas, and improvements in energy efficiency.
The targets would be a key element of an overall framework for a long-term solution that would increase America’s energy security and maintain our economic growth.
The Roundtable’s action plan has been developed in response to growing worldwide demand for energy and high energy prices that are currently threatening both our nation’s energy and economic security. In addition to calling for the establishment of targets, the framework outlines steps toward enhancing energy supply and availability, encouraging increased environmentally responsible exploration and development of North American oil and gas reserves. The proposal also emphasizes cultivation and promotion of new energy technologies through incentives and public-private R&D partnerships.
“When energy problems surfaced over 30 years ago, we did not make the necessary long-term strategic investments or hard decisions to put us on a permanent road to energy security,” said Michael Morris, chairman of the Roundtable’s Energy Task Force and chairman, president and CEO, American Electric Power Company, Inc. “Our nation must commit to addressing the energy challenge by uniting in a powerful, collective way.”
Business Roundtable is an association of 160 chief executive officers of leading U.S. companies, cutting across every sector including both energy producers and users. Member CEOs spent several months discussing ideas, debating options and ultimately compromising to create the new policy framework issued today by the Roundtable.
“As business leaders representing both end users and producers we understand that establishing goals and measuring progress toward achieving those goals increases the chance of success,” Morris said. “We believe everyone – business, consumers and governments – has an important part to play in establishing and reaching stretch goals toward energy efficiency and conservation.”
As a first step toward implementing this action plan in the coming months, the Roundtable has sent a letter to every member of the Congress calling for bipartisan leadership that is firmly focused on meeting our long-term energy challenges without stifling economic growth. Going forward, the Roundtable will work with experts within member companies to develop a sound technological and economic foundation for setting voluntary targets and formulating strategies for implementation.
“The Roundtable applauds the Congress for passing last year’s energy bill and for continued attention to this challenge,” said Morris. “However, more must be done. We remain eager to work with policymakers to create meaningful legislative proposals that would increase the nation’s economic and energy security. The time is now for us to start taking steps to change the way we think and live with regard to energy.”
