ConocoPhillips backs carbon regulation

CNNMoney.com reports today that ConocoPhillips, a US based oil company, is calling for mandatory national regulation of greenhouse gas emissions. In doing so, ConocoPhillips is the first US based oil company to call for this legislation.

“James J. Mulva, the chairman and chief executive of ConocoPhillips, announced the change at a meeting with reporters in Washington, where congressional hearings or industry forums on climate issues are happening almost daily. It’s become almost impossible for big companies to stay out of the fray. Mulva said no particular event caused ConocoPhillips to step forward. “We believe that the science is quite compelling,” he said. “Human activity, including the burning of fossil fuels, is contributing to climate change. Now is the time we need a national mandated framework to deal with climate change.” “

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