This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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

U.S. Energy Secretary Moniz At Platts Energy Outlook Forum: Increasing Oil And Gas Production Not At Odds With Lowering Usage

Stocks in this article: MHFI

NEW YORK, Dec. 12, 2013 /PRNewswire/ -- In a keynote address at the 2013 Platts Global Energy Outlook Forum Thursday in New York City, U.S. Energy Secretary Dr. Ernest Moniz said the Obama administration's support for increased domestic oil and gas production does not conflict with its goals of addressing climate change and lowering greenhouse gases.

The U.S. remains a major importer of crude oil, Moniz said, and the Obama administration is taking aim at reducing those imports through efficiency measures and investments in alternative fuels and vehicle electrification.

"We remain committed, even as we produce much more oil, to lessening our oil dependence, using less oil domestically and having fewer emissions," Moniz said. 

The Secretary made his remarks before an audience of more than a hundred energy executives, government officials and other industry representatives at the Forum, which annually convenes industry experts to detail and debate the challenges, opportunities and special issues facing the world's energy companies and policymakers.

Titled "Bridging the U.S. Boom: Global Markets Prepare," this year's Forum focused on the continuing ripple effects of the U.S. shale revolution, which Moniz said once again cast the nation as an "energy powerhouse." A series of panel discussions examined the changing energy landscape and the role technology and government policy will have in shaping future energy breakthroughs.

"What we are seeing now is that some new technologies – without government subsidies – are getting mature enough to make it into the mainstream," said Wal van Lierop, president and CEO, Chrysalix Energy Venture Capital. "We will continue to see more of this in years to come." 

Speaking at a post-forum media briefing, Secretary Moniz said, with the U.S. awash in domestically produced oil, it may be time for the U.S. to review its ban on exports of crude, but the Department of Energy has no immediate plans to change the composition of or to sell off any part of the Strategic Petroleum Reserve (SPR).

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

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