| 00:00:19 |
Worthington, Barry K. - Executive Director
PROGRAM LINED UP FOR YOU TODAY AND WITH NO FURTHER ADO, HE'LL GOING TO INTRODUCE OUR FIRST SPEAKER. OTHER OPENING KEYNOTE IS RUSS FORD. RUSS IS THE...
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| 00:01:18 |
Ford, Russ - Executive Vice President
INVITATION FOR MYSELF AND FOR SHELL TO JOIN YOU TODAY. WE'VE GOT A TRADE INDUSTRY GROUP, PEOPLE FAMILIAR WITH THE ENERGY BUSINESS, SO YOU PROBABLY ...
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| 00:18:37 |
Q&A , -
SHALE GAS TRUMP MAYBE NEW EXPLORATION OF NATURAL GAS IN THE OFFSHORE, IS ONE EASIER THAN ITS OTHER, DO YOU SEE MAYBE OFFSHORE NOT BEING AS NICE TO...
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| 00:19:05 |
Ford, Russ - Executive Vice President
DECADES. I MEAN, PEOPLE TYPICALLY THINK OF AN EXPLORATION PROCESS PANNED A DEVELOPMENT PROCESS AND THEN A PRODUCTION PROCESS WHEN YOU BRING OIL AND...
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| 00:34:17 |
Worthington, Barry K. - Executive Director
THE SESSION IS JOHN SHELK. JOHN IS PRESIDENT AND CHIEF EXECUTIVE OFFICER OF ELECTRIC POWER SUPPLY ASSOCIATION, WHICH IS THE NATIONAL TRADE ASSOCIATION...
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| 00:35:17 |
Shelk, John - President
POWER SECTOR THAT ABSENT REPRESENTS THAT IS QUITE FASHIONABLE IN CERTAIN CIRCLES AT LEAST THAT FOCUSES ALMOST EXCLUSIVELY ON DEMAND SIDE RESOURCES WITHOUT...
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| 00:37:36 |
Harris, Clay - President and CEO
SAME CATEGORY AS SHALE GAS, WHICH IT STARTED FALLING TO THE WAYSIDE AS A HOT TOPIC ON THE ENERGY SUPPLY ACTIVITIES, AND A LOT OF FOCUS TODAY ON THE...
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| 00:50:00 |
Vesey, Greg - President
THANKS TO BARRY AND THE TEAM AT USDA. IT'S A PLEASURE TO BE HERE. AND I WANT YOU TO RELAX. ON ANOTHER MAJOR ENERGY GUY TO TALK ABOUT OIL AND GAS. I'M...
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| 01:02:10 |
Richards, Tim - Managing Director
OF POWER ISSUES THAT I'M GOING TO TALK BOTH ABOUT POWER AND OIL AND GAS SO YOU'LL HEAR FROM GENERAL ELECTRIC A LOT ABOUT OIL AND GASOLINE HELP THAT...
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| 01:14:03 |
Bradley, Michael - Consultant
PRESENTERS HAVE PUT OUT THERE, THE INNOVATION THAT'S HAPPENING AND THERE'S COMPANIES IS TO IMPRESS A. AND I THINK IT'S GOING TO RELATE TO WHAT I HAVE...
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| 01:26:46 |
Shelk, John - President
YOU ARE THINKING OF YOUR QUESTION I HAVE WANT TO KICK IT OFF AND GET THE PANELISTS WARMED UP. IT OCCURS TO ME LISTENING TO ALL OF THESE PRESENTATIONS...
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| 01:28:08 |
Vesey, Greg - President
A ROLE AGAINST THE REST OF THE WORLD. IT IS A VERY COMPETITIVE CAPITAL ENVIRONMENT CERTAINLY WITHIN CHEVRON, SO COMPETING WITH TRADITIONAL OIL AND...
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| 01:29:12 |
Harris, Clay - President and CEO
GENERATION INVESTMENT BECAUSE OF THE RISK-FREE WORK PROFILE AND I WOULD SAY THE EMBEDDED OVERCAPACITY OF POWER GENERATION IN THE U.S. TODAY. ON THE...
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| 01:30:07 |
Richards, Tim - Managing Director
ACTUALLY THE TWO PARTS OF YOUR QUESTION ARTIFACT THE POINT. THAT IS WHERE CHAIRMAN SPOKE OUT ON THAT POINT. THERE ARE OTHER COUNTRIES, THE EUROPEAN...
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| 01:31:22 |
Bradley, Michael - Consultant
SOME PLAYERS, SOME MAJOR PLAYERS IN THE SET THERE'S SAYING THAT, BUT IN THEIR ADVOCACY OF POLICIES ESPECIALLY AROUND CLIMATE, THEY ARE WORKING REALLY...
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| 01:32:42 |
Shelk, John - President
BE THE FIRST ONE TO START OFF? I WILL START CALLING ON PEOPLE BECAUSE THEY DO KNOW SOME OF YOU BY NAME. DON'T BE BASHFUL. YES, SIR. AND WE WILL GET...
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| 01:33:11 |
Q&A, -
BETWEEN THE GROWING INTEREST IN SHELL GAS VERSUS LNG AND ISSUES GOING FORWARD? >> I THINK IT IS-- I THINK GENERALLY LNG CAME-- CAN COMPETE FAVORABLY WITH...
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| 01:33:31 |
Harris, Clay - President and CEO
AS THE FRACKING MECHANISM FOR LNG AROUND THE GLOBE IN THE FAR EAST AND ALSO IN MOST OF THE EUROPEAN AND MARKETS, LNG IS INDEXED TO OIL AND SO WHEN YOU...
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| 01:36:55 |
Vesey, Greg - President
CHALLENGED, BUT TECHNOLOGIES ARE IMPROVING, OPERATIONAL PROCESSES ARE IMPROVING SO I THINK YOU CAN CONTINUE TO SEE THAT PUSH DOWN BUT THEY ARE INHERENTLY...
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| 01:37:33 |
Richards, Tim - Managing Director
THE EXTENT THAT NOW WIND POWER IS NOW IN SOME CIRCUMSTANCES NOW BECOMING COMPETITIVE WITH NATURAL GAS, DEPENDING UPON THE PRICE POINTS OF NATURAL GAS....
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| 01:39:31 |
Bradley, Michael - Consultant
COST. I THINK THE GOOD NEWS HERE IS THE TRADITIONAL CONTROL OPTIONS ARE NOW BEING MODIFIED THROUGH INNOVATION, THROUGH OTHER WAYS OF ACHIEVING THE EMISSION...
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| 01:41:42 |
Harris, Clay - President and CEO
GAS A LOT OF THE CURRENT PRICE LEVELS HAS BEEN DRIVEN BY A LOT OF DRILLING AND PRODUCTION THAT WAS DRIVEN BY LEASE HOLDINGS AND INVESTING, OTHER INVESTORS...
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| 01:42:56 |
Richards, Tim - Managing Director
REPLACING THE OTHER BUT ACTUALLY THE FACT THAT NATURAL GAS POWER PLANTS CAN BE QUICK STARTUPS AND CAN AFFIRM YOUR POWER FROM YOUR WIND AND OF COURSE...
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| 01:43:37 |
Shelk, John - President
GAS PLANTS AND OTHER NATURAL GAS PLANTS TO OFFSET INDIA WITH THE VARIABILITY OF THE RENEWABLES THAT YOU CAN HAVE A POLICY DECISION AT THE FEDERAL COMMISSION...
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| 01:44:25 |
Worthington, Barry K. - Executive Director
WHERE THE PEOPLE HAVE DESCRIBED THAT AS A TRAIN WRECK COMING IN AND THERE IS NO SUGGESTION THAT THIS IS A TRAIN WRECK. SO MY QUESTION REALLY, AND FOR...
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| 01:45:26 |
Vesey, Greg - President
BIG RESOURCE AND THE WORLD HAS BECOME SO COMFORTABLE WITH NATURAL GAS THAT I JUST DON'T SEE THE BARRIERS THERE. I THINK WE WILL BE ABLE TO GET PAST...
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| 01:46:12 |
Bradley, Michael - Consultant
AND MADE SOME ASSUMPTIONS ABOUT TIMELINES OR THE EPA HAS, YOU COULD CREATE A SITUATION WHERE WOULD BE VERY TOUGH FOR THE INDUSTRY TO DEAL WITH IT....
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| 01:47:57 |
Shelk, John - President
BUT AN KEEP THE LIGHTS ON HERE AND ACROSS THE COUNTRY WE HAVE USED ALL THOSE TECHNOLOGIES AND FOLLOWING UP ON THE LACK OF ACTION IN THE CONGRESS ON...
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| 01:49:11 |
Richards, Tim - Managing Director
2030 AND 2050 AND IN THEIR SCENARIOS THEY ARE SHOWING AN INCREASE IN THE TOTAL CONSUMPTION OF NATURAL GAS AS PART OF MEETING THE TARGETS, AND THAT IS...
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| 01:50:16 |
Vesey, Greg - President
BALANCE AND HOWEVER LONG THAT BRIDGE PERIOD IT IS, IT WILL IMPROVE THE OVERALL EQUATION. >> ANYONE ELSE ON THAT QUESTION? IF NOT, IF THERE ARE FURTHER...
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| 01:51:28 |
Richards, Tim - Managing Director
EARLY HYDRO FACILITY THAT IS STILL OPERATING. NOT FAR FROM BANGALORE. OVER 100 YEARS AGO. BUT WE DEFINITELY SEE INDIA AS BOTH A GROWTH MARKET AND A...
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| 01:52:04 |
Vesey, Greg - President
US. >> OTHER QUESTIONS, COMMENTS? RIGHT IN FRONT. >> HI, I'M SHAWN SULLIVAN SULLIVAN WITH S&L ENERGY. MR. CLAY HARRIS, I HAD A QUESTION REGARDING THE...
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| 01:53:07 |
Harris, Clay - President and CEO
GENERALLY A VERY ATTRACTIVE TRANSPORTATION PREMIUM FOR NATURAL GAS AND A CONTINUED DIFFICULTY IN BUILDING A LOT OF DOMESTIC PIPELINES INFRASTRUCTURE...
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| 01:55:30 |
Shelk, John - President
I'M NOT GOING TO ANSWER IT. ANYBODY ELSE? CHARLES IN THE CORNER AS A GOOD QUESTION. >> I WAS WONDERING, NO ONE ON THE PANELIST TALKED ABOUT WHAT YOUR...
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| 01:56:38 |
Vesey, Greg - President
LINE WHICH IS JUST RECENTLY ENDED 2009 WAS APPROVED FOR INVESTMENT, AND SO THAT IS OBVIOUSLY A HUGE EXPENSE AND A STEP FOR US TO SEE IF IN FACT THAT...
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| 01:57:09 |
Richards, Tim - Managing Director
THE CAPABILITY OF CAPTURING CARBON IN THE GASIFICATION PROJECT, AND THEN WE ARE ALSO INVESTING IN THE CAPABILITY OF USING SOME OF THE COMPRESSION EQUIPMENT...
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| 01:58:35 |
Shelk, John - President
NECESSARY? >> I THINK FIRST AND FOREMOST THE RATIONALE FOR STORING CARBON IS THAT THERE IS A PRICE ON CARBON EVENT YOU HAVE SOME VALUE ASSOCIATED WITH...
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| 01:58:56 |
Richards, Tim - Managing Director
NEED TO BE ANSWERED, VIABILITY BEING MOST IMPORTANT IN TERMS OF THE PROCESS OF PUTTING IT BACK IN AND OWNING IT OVER AN EXTENDED PERIOD OF TIME. BUT...
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| 02:00:28 |
Shelk, John - President
ELECTIONS THAT HAVE LED TO SUCCESSFUL FEDERAL LEGISLATIVE OUTCOMES. YOU CAN LOOK AT THE CLEAN AIR ACT UNTIL PIPE STANDARDS. THE CLEAN AIR ACT ON REFORMULATED...
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| 02:00:47 |
Bradley, Michael - Consultant
NORTHEAST, THE MOUNTAIN STATES, HAVE OVER TIME BUILD MOMENTUM AROUND THEIR APPROACH AND IT HAS LED TO SOME SORT OF REPLICATION AND CONSISTENCY ON THE...
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| 02:02:53 |
Shelk, John - President
PRICE ON CLIMATE THAT SOME WOULD LOOK AT THE RECENT EVENTS IN THE PENDULUM SWINGING AGAINST EVEN EPA MOVING FORWARD, AND I'M THINKING OF THINGS LIKE...
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| 02:03:35 |
Bradley, Michael - Consultant
THEM AND TAKE A LONG-TERM BREAK RATHER THAN LET'S PUT THEM ON HOLD AND WORK ON A SOLUTION. I THINK THAT IS WHAT PEOPLE ARE LOOKING FOR IS WORKING ON...
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| 02:04:30 |
Richards, Tim - Managing Director
AND SO THAT IS AN EXAMPLE WHERE STATE POLICY DEFINITELY WAS LEADING FEDERAL POLICY. AND IT IS NOT ONLY SOMETHING THAT OCCURS HERE IN THE UNITED STATES....
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| 02:05:29 |
Vesey, Greg - President
WHAT THAT PICTURE LOOKS LIKE GOING FORWARD, THAT LEVEL OF UNCERTAINTY IS KIND OF A DISINCENTIVE TO INVESTMENT. >> I WOULD JUST SAY STATES THAT HAVE ROBUST...
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| 02:05:50 |
Harris, Clay - President and CEO
THE TABLE. >> DO YOU THINK THAT THE FORECAST FOR THE GROWTH OF THE USE OF ELECTRIC AND NATURAL GAS VEHICLES IS REASONABLE? WHAT IMPACT WILL IT HAVE...
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| 02:06:36 |
Shelk, John - President
WE HAVE INVESTED IN THE CHARGING STATIONS. THE WATT STATION, IS A VERY EXCITING TIME. OBVIOUSLY, WHEN YOU SAY THE PROJECTIONS, THERE ARE A LOT OF DIFFERENT...
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| 02:06:49 |
Richards, Tim - Managing Director
VEHICLES INTRODUCTION INTO THE ECONOMY WILL BE, BUT WE THINK IT IS GOING TO BE AN IMPORTANT PART, AND IT IS AN AREA THAT WILL REQUIRE NOT JUST, NOT...
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| 02:08:05 |
Vesey, Greg - President
GROWTH STILL TO COME IN TRADITIONAL AUTOMOBILES, I DON'T THINK IT IS GOING TO SLOW THE GROWTH DOWN MEANINGFULLY HERE IN THE NEXT FEW YEARS. >> AND I...
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| 02:08:29 |
Harris, Clay - President and CEO
VEHICLES, SO MAYBE A LOT OF TRUCK FLEETS WILL CONVERT TO NATURAL GAS, BUT A LOT OF THE OTHER VEHICLES I THINK LONG-TERM. >> ONE LAST QUESTION, ANYBODY?...
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| 02:08:57 |
Bradley, Michael - Consultant
NORTHEAST IS GOING TO BE VERY DIFFERENT IN CALIFORNIA WHICH IS UNUSUAL. USUALLY THE THEY KIND OF GET THEIR APPROACH IS PRETTY WELL STRAIGHTENED OUT...
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| 02:10:42 |
Vesey, Greg - President
GASOLINE INFRASTRUCTURE, SO I THINK THAT IS ANOTHER THING THAT PUSHES THAT FURTHER OUT. >> ANYBODY ELSE CARE TO COMMENT ON HYDROGEN FUEL CELLS? TO...
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| 02:11:03 |
Shelk, John - President
REASSURED THAT IF THE GOVERNMENT POLICIES CORRECTLY WE HAVE SEEN CONCRETE EXAMPLES FROM THESE COMPANIES AND OTHERS OF WHAT THE PRIVATE SECTOR IN COMPETITIVE...
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| 02:11:46 |
Worthington, Barry K. - Executive Director
MINUTES AFTER 12 FOR LUNCH AND THEN WE WILL HEAR FROM SECRETARY ABRAHAM AFTER WE HAVE EATEN. AND BY THE WAY, I THINK THE SECRETARY WILL BE WILLING TO...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.