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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:15,272 Points:1,143,275 Joined:Nov 2008	Message Posted: Mar 12, 2010 8:28:31 PM Ignore honda0105 Report Abuse skybiker: change to solar.
honda0105 Champion Author Tallahassee Posts:15,272 Points:1,143,275 Joined:Nov 2008	Message Posted: Mar 12, 2010 8:28:07 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:5,159 Points:966,730 Joined:Mar 2004	Message Posted: Mar 11, 2010 12:12:25 AM Ignore TIGERPAW46 Report Abuse up up & away
skybiker Champion Author South Carolina Posts:5,491 Points:1,133,440 Joined:Jul 2008	Message Posted: Mar 10, 2010 11:47:28 PM 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:3,868 Points:992,655 Joined:Nov 2008	Message Posted: Mar 10, 2010 11:38:40 PM Ignore Bussman Report Abuse Well said skybiker!
EVBuddy Champion Author Nevada Posts:14,343 Points:2,569,615 Joined:Sep 2004	Message Posted: Mar 10, 2010 11:24:09 PM Ignore EVBuddy Report Abuse We need renewable energy resources.
JoeKR Champion Author New Jersey Posts:7,253 Points:1,416,765 Joined:Feb 2006	Message Posted: Mar 10, 2010 11:24:00 PM 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:30,101 Points:2,723,125 Joined:Mar 2004	Message Posted: Mar 10, 2010 11:19:15 PM Ignore ItsMorph Report Abuse Idiots. Climate change is a fact. OF NATURE!
skybiker Champion Author South Carolina Posts:5,491 Points:1,133,440 Joined:Jul 2008	Message Posted: Mar 10, 2010 11:19:13 PM 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:5,162 Points:1,204,675 Joined:Mar 2007	Message Posted: Mar 10, 2010 11:17:35 PM Ignore Blue_Cruzer Report Abuse This is another example of the present administrations ruining our country.
joelimo Champion Author New York Posts:47,827 Points:1,924,100 Joined:Aug 2006	Message Posted: Mar 10, 2010 11:17:27 PM 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:6,900 Points:1,055,620 Joined:Jul 2005	Message Posted: Mar 10, 2010 11:14:02 PM 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:6,393 Points:1,511,720 Joined:Mar 2005	Message Posted: Mar 10, 2010 11:11:58 PM Ignore TBONE3 Report Abuse Has this administration accomplished anything GOOD for the taxpayers? I think not!
Pede Champion Author New Jersey Posts:4,172 Points:633,290 Joined:Apr 2007	Message Posted: Mar 10, 2010 11:10:58 PM Ignore Pede Report Abuse It makes no sense why tax people more for something so unsure
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Mar 10, 2010 11:09:52 PM Ignore CobraLeader Report Abuse ... Another reason for gas prices to go up!!! ...
TIGERPAW46 Champion Author Florida Posts:5,159 Points:966,730 Joined:Mar 2004	Message Posted: Mar 10, 2010 11:08:40 PM 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:6,474 Points:1,917,315 Joined:May 2006	Message Posted: Mar 10, 2010 11:07:37 PM Ignore HEBster Report Abuse Guess I'll have to look into this a little more...
Bezalel Champion Author Oklahoma City Posts:9,768 Points:1,829,580 Joined:Oct 2006	Message Posted: Mar 10, 2010 11:04:16 PM 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:6,673 Points:2,007,975 Joined:Mar 2005	Message Posted: Mar 10, 2010 11:03:05 PM Ignore Toppers Report Abuse Hope they weight them carefully...
FastAndy Champion Author Indianapolis Posts:4,409 Points:1,578,510 Joined:Jun 2007	Message Posted: Mar 10, 2010 10:58:15 PM Ignore FastAndy Report Abuse Obama will get a carbon tax passed and it will hurt our economy.
rugbyphil Champion Author Las Vegas Posts:19,125 Points:3,055,475 Joined:Apr 2003	Message Posted: Mar 10, 2010 10:58:14 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:4,354 Points:1,101,450 Joined:Jun 2008	Message Posted: Mar 10, 2010 10:58:09 PM Ignore jjjleblanc Report Abuse In any case, costs eventually are passed on to consumers.
Bus561 Champion Author Lexington Posts:14,081 Points:2,754,080 Joined:May 2004	Message Posted: Mar 10, 2010 10:57:09 PM Ignore Bus561 Report Abuse These cut throat thieves don't care about anyone or the economy.
Pede Champion Author New Jersey Posts:4,172 Points:633,290 Joined:Apr 2007	Message Posted: Mar 10, 2010 10:52:47 PM Ignore Pede Report Abuse Why do they keep hurting the econmy ??????????
HEBster Champion Author Kentucky Posts:6,474 Points:1,917,315 Joined:May 2006	Message Posted: Mar 10, 2010 10:51:16 PM Ignore HEBster Report Abuse Hadn't factored carbon in...
Bert2010 Veteran Author Columbus Posts:431 Points:184,095 Joined:Feb 2010	Message Posted: Mar 10, 2010 10:41:15 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 Veteran Author Twin Cities Posts:258 Points:876,900 Joined:Apr 2008	Message Posted: Mar 10, 2010 10:37:56 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:518,270 Joined:Apr 2008	Message Posted: Mar 10, 2010 10:37:35 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:5,543 Points:1,048,020 Joined:Jul 2008	Message Posted: Mar 10, 2010 10:36:13 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:5,558 Points:1,637,205 Joined:Aug 2003	Message Posted: Mar 10, 2010 10:36:04 PM Ignore mazdaboy Report Abuse Change is on the way.
dbatw Champion Author St. Louis Posts:1,686 Points:341,165 Joined:Apr 2009	Message Posted: Mar 10, 2010 10:33:17 PM Ignore dbatw Report Abuse they see the handwriting on the wall...
judgemobile Champion Author Ohio Posts:5,260 Points:1,986,170 Joined:Nov 2005	Message Posted: Mar 10, 2010 10:29:00 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:47,827 Points:1,924,100 Joined:Aug 2006	Message Posted: Mar 10, 2010 10:27:31 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:9,263 Points:1,894,515 Joined:Oct 2005	Message Posted: Mar 10, 2010 10:17:47 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:6,171 Points:1,226,590 Joined:Jan 2008	Message Posted: Mar 10, 2010 10:12:27 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:6,036 Points:1,218,560 Joined:Nov 2007	Message Posted: Mar 10, 2010 10:12:02 PM Ignore Lukus Report Abuse Another way to push prices up.
Jeeputtputt Champion Author Michigan Posts:1,394 Points:342,495 Joined:Aug 2009	Message Posted: Mar 10, 2010 10:04:39 PM Ignore Jeeputtputt Report Abuse Shut up-----Big oil worry, come on, knock off the ca ca...
npt Veteran Author Raleigh Posts:250 Points:90,680 Joined:Oct 2009	Message Posted: Mar 10, 2010 10:04:03 PM Ignore npt Report Abuse good info.
woodeye55 Champion Author Gary Posts:4,661 Points:1,392,705 Joined:Mar 2006	Message Posted: Mar 10, 2010 10:03:30 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 10:00:28 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:5,803 Points:1,274,355 Joined:Apr 2008	Message Posted: Mar 10, 2010 9:58:28 PM Ignore altima2008 Report Abuse Higher gas prices is bascially the bottom line!
Bonito Champion Author Dayton Posts:13,060 Points:2,548,415 Joined:Jun 2004	Message Posted: Mar 10, 2010 9:54:50 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!