Oil chiefs downplay optimism for renewable energy

03/10/2010 | New York Times (tiered subscription model), The

The heads of ConocoPhillips and Saudi Aramco spoke out during a U.S. energy conference against growing support for renewable power. Such sources cannot develop swiftly enough to take the place of fossil fuels, ConocoPhillips CEO Jim Mulva said. Aramco chief Khalid Al-Falih, meanwhile, said excessive focus on renewables could reduce the investment necessary to sustain production of traditional fuels.

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