Exxon Mobil chief's global energy outlook
First of all, Nolan believes that fossil fuels will continue to provide about 80 percent of our energy through 2030 because of technical, economic and environmental factors limiting alternative energies.
Secondly, he feels that the ethanol industry stands the best chance of succeeding if it's left to market forces and that the energy needed to produce ethanol must be weighed into the balance.
Lastly, he critizes carbon trading schemes which enable companies that cannot economically meet their allowances to buy emissions credits as an ineffective way to manage global warming. He says they are a short-term reponse to a long-term issue and that resources should be focused elsewhere.
I'd be curious to know the context in which these remarks were made.
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