BP CEO Tony Hayward
BP CEO Tony Hayward said that Congress should work harder to promote natural gas, which emits half the carbon emissions of coal. Despite the fact that coal is responsible for about one-third of the country’s carbon dioxide emissions, Hayward noted that it was “disproportionately favored” in climate legislation in the House of Representatives.
In a speech on energy security and climate change at the Peterson Institute for International Economics on Tuesday, Hayward pointed out conflicting elements of current energy policy in the U.S.
“It’s surprising the U.S. is still building coal-fired power plants,” Hayward said. He also cautioned that electric vehicles powered by coal-generated electricity will not significantly reduce carbon emissions.
BP established itself as one of the first major oil companies to address problems associated with climate change. The company’s “Beyond Petroleum” campaign is among the most forward-looking in the oil and gas industry. Hayward has been BP’s chief executive officer since 2007.
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