Published: June 05, 2007
Washington, D.C. – Business Roundtable, an association of 160 chief executive officers of leading U.S. companies, today unveiled a wide-ranging energy plan calling for a more diversified and domestic-based energy supply mix, increased energy efficiency and greater investment in new energy technologies.
The recommendations, available in the plan entitled "More Diverse, More Domestic, More Efficient: A Vision for America's Energy Future," were developed through a consensus-driven process led by Business Roundtable's CEO members representing multiple sectors of the economy, and call for a mix of sound government policies, technological innovation, and proactive, voluntary efforts.
"With this blueprint, America's CEOs are speaking with one voice and calling for new approaches to meet our energy challenges," said Michael G. Morris, Chairman of the Roundtable's Energy Task Force and chairman, president and chief executive officer of American Electric Power. "Our plan will help ensure our nation's energy security by making our energy system more domestic, more diverse and more efficient. Our plan recognizes that we cannot afford to ignore any pathway that will contribute to stable, clean and affordable energy supplies."
Morris added, "This includes ethanol and other bio-fuels, nuclear power, greater access to conventional domestic oil and natural gas reserves, coal-to-liquids, coal gasification, and energy efficiency."
Among the recommendations in the Roundtable energy security blueprint are those calling for:
The report was developed in response to ongoing energy-related concerns of Business Roundtable member CEOs, as expressed in Roundtable member surveys. Business Roundtable CEOs have ranked energy costs as one of the most pressing and difficult challenges affecting their business and the overall U.S. economy, second only to health care costs.
"The production, distribution and overall cost of energy are among the most difficult challenges facing today's business environment," concluded Morris. "And, we believe the business community has a special responsibility to provide leadership on this issue. Our recommendations provide an aggressive-yet-balanced approach."
To download the energy plan, click here.
Business Roundtable is an association of chief executive officers of leading U.S. companies with more than $5 trillion in annual revenues and nearly 10 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and pay nearly half of all corporate income taxes paid to the federal government. Annually, they return $133 billion in dividends to shareholders and the economy.
Business Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with more than $70 billion in annual research and development spending – more than a third of the total private R&D spending in the U.S.