This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Shell Oil President At Platts Energy Outlook Forum: Government And Business Can Work Together To Overcome "Divide"

NEW YORK , Nov. 29, 2012 /PRNewswire/ -- The shale gas "revolution" is "redrawing the geopolitical map of the world," and Shell has a four-pronged approach toward capitalizing on that new supply, the president of Shell Oil Company told the 2012 Platts Global Energy Outlook Forum "Fuel Fight: Environment Meets Economics" Thursday in New York City.

Marvin Odum, giving the keynote address at the Forum's luncheon, said his company has four "pillars" of its gas strategy. He cited specific instances where Shell is looking at projects that would make those "pillars" actual projects.

"The gas revolution is a creator of new jobs, a catalyst for a renaissance in American manufacturing, a bridge to future renewables and with carbon capture and storage, a destination fuel for an increasingly carbon-constrained economy," Odum said.

Odum made his remarks before an audience of more than a hundred energy executives, government officials and other industry representatives. The Forum, now in its sixth year, consisted of two panel discussions on challenges and vulnerabilities of the world's energy systems, including the U.S. shale boom and nuclear safety.

A recurring theme of the day was the ever-present tension and conflicts between the energy industry, government and society, which Odum called a "divide" that did not have to exist.

Speaking to recent issues within Shell Oil Company, which is the U.S. arm of Royal Dutch Shell, Odum said the company's drilling program in federal waters offshore Alaska is a sign of a "real example where business and government work together to secure both the opportunity and the protection." (Shell received limited permission to drill in the Beaufort and Chukchi seas this summer, but the limitations on the permit required the company to halt operations for this year before it reached the hydrocarbon-bearing zone.)

To balance the "rewards and the risks" inherent in drilling in such an environmentally sensitive area, "government, society and business (must) work with one another to define expectations, agree on operations standards, and collaborate on solutions," Odum said. Both the Bush and Obama administrations "did their due diligence" and Shell was issued drilling permits.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs