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U.S. oil industry braces for carbon rules

Reuters -- As oil and natural gas prices settle into an equilibrium for now, a new variable is emerging as the most worrisome for Big Oil: the cost of carbon.

Major international oil companies say they are factoring carbon prices into their long-term planning calculations, but assessing that cost is a challenge as U.S. policymakers struggle to come together on how to combat climate change.

The legislation could recast the playing field for energy producers and place a premium on low-carbon energy sources like wind and solar.

"Climate change regulations must be treated like business risk on par with other risks in this business," said Helge Lund, chief executive of Norway's Statoil (STL.OL), speaking at the CERA Week conference. "The pressure in this industry only will increase."

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Submitted Mar 10, 2010 By: Mudsprings

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honda0105 Champion Author Tallahassee Posts:10,150 Points:591,800 Joined:Nov 2008	Message Posted: Mar 12, 2010 9:28:31 PM Ignore honda0105 Report Abuse skybiker: change to solar.
honda0105 Champion Author Tallahassee Posts:10,150 Points:591,800 Joined:Nov 2008	Message Posted: Mar 12, 2010 9:28:07 PM Ignore honda0105 Report Abuse sadly, the only ones who will ultimately pay for the C&T will be the consumer.
TIGERPAW46 Champion Author Florida Posts:2,587 Points:489,565 Joined:Mar 2004	Message Posted: Mar 11, 2010 1:12:25 AM Ignore TIGERPAW46 Report Abuse up up & away
skybiker Champion Author South Carolina Posts:3,182 Points:627,685 Joined:Jul 2008	Message Posted: Mar 11, 2010 12:47:28 AM Ignore skybiker Report Abuse Right here in the Carolinas, The electric Company is being forced to switch from coal with scrubbers to Nat Gas and we expect the electric bills to double in the next two years. We are already one of the highest cost states for electricity.....
Bussman Champion Author Dallas Posts:1,627 Points:489,405 Joined:Nov 2008	Message Posted: Mar 11, 2010 12:38:40 AM Ignore Bussman Report Abuse Well said skybiker!
EVBuddy Champion Author Nevada Posts:11,511 Points:2,021,610 Joined:Sep 2004	Message Posted: Mar 11, 2010 12:24:09 AM Ignore EVBuddy Report Abuse We need renewable energy resources.
JoeKR Champion Author New Jersey Posts:4,806 Points:1,082,745 Joined:Feb 2006	Message Posted: Mar 11, 2010 12:24:00 AM Ignore JoeKR Report Abuse Factoring carbon prices into long term planning calculations is simple - they will just pass along any costs and desires for greater profit to the consumer.
ItsMorph Champion Author Grand Rapids Posts:26,476 Points:2,170,575 Joined:Mar 2004	Message Posted: Mar 11, 2010 12:19:15 AM Ignore ItsMorph Report Abuse Idiots. Climate change is a fact. OF NATURE!
skybiker Champion Author South Carolina Posts:3,182 Points:627,685 Joined:Jul 2008	Message Posted: Mar 11, 2010 12:19:13 AM Ignore skybiker Report Abuse Guys!! Read My Lips!!! CO2 is not a pollutant!!! Carbon Legislation is a stealth tax and power grab by the Enviro-nuts!! This Cap and Trade will destroy the US economy....Maybe that's what they want...Think Cloward-Piven.....Google it....
Blue_Cruzer Champion Author Lexington Posts:2,802 Points:732,810 Joined:Mar 2007	Message Posted: Mar 11, 2010 12:17:35 AM Ignore Blue_Cruzer Report Abuse This is another example of the present administrations ruining our country.
joelimo Champion Author New York Posts:21,695 Points:1,372,050 Joined:Aug 2006	Message Posted: Mar 11, 2010 12:17:27 AM Ignore joelimo Report Abuse Pede,,,makes a lot of sense for whoever (golbeAl an Co) can tax even your Breath,,,
altonb1 Champion Author Pennsylvania Posts:4,829 Points:648,700 Joined:Jul 2005	Message Posted: Mar 11, 2010 12:14:02 AM Ignore altonb1 Report Abuse Pushing a huge tax like this now is irresponsible. Obama's policies are destorying this nation. OBAMA - One Big-ass Mistake, America
TBONE3 Champion Author Pennsylvania Posts:3,688 Points:965,070 Joined:Mar 2005	Message Posted: Mar 11, 2010 12:11:58 AM Ignore TBONE3 Report Abuse Has this administration accomplished anything GOOD for the taxpayers? I think not!
Pede Champion Author New Jersey Posts:2,679 Points:380,175 Joined:Apr 2007	Message Posted: Mar 11, 2010 12:10:58 AM Ignore Pede Report Abuse It makes no sense why tax people more for something so unsure
CobraLeader Champion Author New Jersey Posts:234,762 Points:1,096,100 Joined:Apr 2007	Message Posted: Mar 11, 2010 12:09:52 AM Ignore CobraLeader Report Abuse ... Another reason for gas prices to go up!!! ...
TIGERPAW46 Champion Author Florida Posts:2,587 Points:489,565 Joined:Mar 2004	Message Posted: Mar 11, 2010 12:08:40 AM Ignore TIGERPAW46 Report Abuse >"a new variable is emerging as the most worrisome for Big Oil: the cost of carbon."< Here it comes Another ugly three headed monster created by the current party in control in Washington. The Cap & Trade Bill. AS if Energy prices weren't unstable enough These Federal Fees, Another way of taxation, will increase our cost much more than The Party claims or will admit. Just hold unto your pants because you won't need to be concerned about losing just your shirt.
HEBster Champion Author Kentucky Posts:3,748 Points:1,371,035 Joined:May 2006	Message Posted: Mar 11, 2010 12:07:37 AM Ignore HEBster Report Abuse Guess I'll have to look into this a little more...
Bezalel Champion Author Oklahoma City Posts:7,130 Points:1,296,785 Joined:Oct 2006	Message Posted: Mar 11, 2010 12:04:16 AM Ignore Bezalel Report Abuse I don't think he will get the tax passed, I hope not. It would be bad for the economy. Now with "green" bio fuels shown to not be better than fossil fuels, what will happen with them?
Toppers Champion Author Atlanta Posts:3,927 Points:1,462,965 Joined:Mar 2005	Message Posted: Mar 11, 2010 12:03:05 AM Ignore Toppers Report Abuse Hope they weight them carefully...
FastAndy Champion Author Indianapolis Posts:4,203 Points:1,079,710 Joined:Jun 2007	Message Posted: Mar 10, 2010 11:58:15 PM Ignore FastAndy Report Abuse Obama will get a carbon tax passed and it will hurt our economy.
rugbyphil Champion Author Las Vegas Posts:13,560 Points:2,511,615 Joined:Apr 2003	Message Posted: Mar 10, 2010 11:58:14 PM Ignore rugbyphil Report Abuse blame the fools that believe climate change is the result of mankind...what an ego...we are insignificant to climate change. Yes we can pollute the environment, but that is NOT climate change.... having C02 listed as a "pollutant" is absurd, and will cost the US economy in a major way!
jjjleblanc Champion Author Rochester Posts:2,023 Points:587,785 Joined:Jun 2008	Message Posted: Mar 10, 2010 11:58:09 PM Ignore jjjleblanc Report Abuse In any case, costs eventually are passed on to consumers.
Bus561 Champion Author Lexington Posts:11,284 Points:2,203,025 Joined:May 2004	Message Posted: Mar 10, 2010 11:57:09 PM Ignore Bus561 Report Abuse These cut throat thieves don't care about anyone or the economy.
Pede Champion Author New Jersey Posts:2,679 Points:380,175 Joined:Apr 2007	Message Posted: Mar 10, 2010 11:52:47 PM Ignore Pede Report Abuse Why do they keep hurting the econmy ??????????
HEBster Champion Author Kentucky Posts:3,748 Points:1,371,035 Joined:May 2006	Message Posted: Mar 10, 2010 11:51:16 PM Ignore HEBster Report Abuse Hadn't factored carbon in...
Bert2010 Sophomore Author Columbus Posts:232 Points:82,980 Joined:Feb 2010	Message Posted: Mar 10, 2010 11:41:15 PM Ignore Bert2010 Report Abuse Cap and trade is less about putting money into government coffres than putting more money into the greedy hands of the ultra-rich and banks and finaciers.
silvolvo Sophomore Author Twin Cities Posts:243 Points:559,825 Joined:Apr 2008	Message Posted: Mar 10, 2010 11:37:56 PM Ignore silvolvo Report Abuse everyone needs to brace for the impact of carbon rules as we will all be paying for it everytime we turn around
ChiKid Champion Author Denver Posts:1,858 Points:517,520 Joined:Apr 2008	Message Posted: Mar 10, 2010 11:37:35 PM Ignore ChiKid Report Abuse They develop excessive future to insure large future profits. As usual they win and we loose.
WillCody Champion Author Austin Posts:2,329 Points:505,765 Joined:Jul 2008	Message Posted: Mar 10, 2010 11:36:13 PM Ignore WillCody Report Abuse The carbon tax is NOT about conservation, it is about putting money in the government coffers for the politicians to spend on their pet projects! The projected revenue, at $346 billion, was the largest single line item on Obama's budget proposal last year. If it was about reducing both oil imports and CO2 production, the emphasis would be on drilling domestically and nuclear energy, rather than additional taxes on the consumer when the economy is not exactly robust!
mazdaboy Champion Author Portland Posts:2,822 Points:1,096,650 Joined:Aug 2003	Message Posted: Mar 10, 2010 11:36:04 PM Ignore mazdaboy Report Abuse Change is on the way.
dbatw Champion Author St. Louis Posts:1,547 Points:314,440 Joined:Apr 2009	Message Posted: Mar 10, 2010 11:33:17 PM Ignore dbatw Report Abuse they see the handwriting on the wall...
judgemobile Champion Author Ohio Posts:2,593 Points:1,452,175 Joined:Nov 2005	Message Posted: Mar 10, 2010 11:29:00 PM Ignore judgemobile Report Abuse how much of these CARBON credits goes into the pocket of that INCONVENIENT TRUTH guy, AL BORE ?
joelimo Champion Author New York Posts:21,695 Points:1,372,050 Joined:Aug 2006	Message Posted: Mar 10, 2010 11:27:31 PM Ignore joelimo Report Abuse after the 2010 midterm elections I would hope None of these a$$holes who are even Considering this Bulls#!t will be in office,,, if they are it's our fault!
Buddy2264 Champion Author Tampa Posts:6,415 Points:1,343,440 Joined:Oct 2005	Message Posted: Mar 10, 2010 11:17:47 PM Ignore Buddy2264 Report Abuse What we can count on as shown by history, nature will fix itself, no matter what goes wrong. However we may not like the way it gets fixed. Conservation keeps your money in your pocket.
Z51Corvette Champion Author Austin Posts:4,010 Points:773,545 Joined:Jan 2008	Message Posted: Mar 10, 2010 11:12:27 PM Ignore Z51Corvette Report Abuse Carbon rules... Please! Are the educated going to continue to buy this garbage... Climate change is more about Pollution from Natural Disasters, the Sun and Sun Spots. (Things we CAN'T CHANGE") Why don't we have Al Gore pony up for all the Electricity waste he leaves on the table. It's time we demand REAL DATA. These "GreenPeace" - "TreeHugger" types just think we're stupid sheep to buy all this garbage.
Lukus Champion Author Halifax Posts:3,304 Points:671,915 Joined:Nov 2007	Message Posted: Mar 10, 2010 11:12:02 PM Ignore Lukus Report Abuse Another way to push prices up.
Jeeputtputt All-Star Author Cincinnati Posts:523 Points:143,675 Joined:Aug 2009	Message Posted: Mar 10, 2010 11:04:39 PM Ignore Jeeputtputt Report Abuse Shut up-----Big oil worry, come on, knock off the ca ca...
npt Sophomore Author Raleigh Posts:138 Points:32,180 Joined:Oct 2009	Message Posted: Mar 10, 2010 11:04:03 PM Ignore npt Report Abuse good info.
woodeye55 Champion Author Gary Posts:2,211 Points:867,320 Joined:Mar 2006	Message Posted: Mar 10, 2010 11:03:30 PM Ignore woodeye55 Report Abuse I don't like to read science fiction articles.
DellMan Champion Author Omaha Posts:1,917 Points:442,925 Joined:Apr 2008	Message Posted: Mar 10, 2010 11:00:28 PM Ignore DellMan Report Abuse The environmental crazies are going to put more people out of work and cost us tons of money with their stupid ideas. Obama and his people will be the end of the good life in the US. He is trying to make us more like a third world country every day. Between the Health Care take over, the auto industry take over and the Cap & Tax plans he is slowing working at taking full control of the country and soon will want to be ruler for life.
altima2008 Champion Author Philadelphia Posts:3,039 Points:729,085 Joined:Apr 2008	Message Posted: Mar 10, 2010 10:58:28 PM Ignore altima2008 Report Abuse Higher gas prices is bascially the bottom line!
Bonito Champion Author Dayton Posts:10,016 Points:2,002,710 Joined:Jun 2004	Message Posted: Mar 10, 2010 10:54:50 PM Ignore Bonito Report Abuse Da? I think that is were we are heading ----- getting rid of Oil Companies and their Oil! Let them swim in their OIL!