Business Roundtable

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:

• Expanded use of bio-fuels, starting with 10% ethanol in gasoline as quickly as possible and then scaling-up advanced bio-fuels such as biobutanol and cellulosic ethanol as warranted by technology advances in the vehicles and fuels sectors;
• Developing and deploying energy efficient vehicle technologies to the maximum extent feasible;
• Reducing energy intensity outside the transportation sector by at least 25 percent above the anticipated business-as-usual rate of improvement, which would mean an overall reduction in energy intensity of 40 percent by 2025 (energy intensity is energy consumed per unit of economic output);
• Expanded access to oil and natural gas supplies in the Rocky Mountains, along the Atlantic and Pacific Coasts and the Eastern Gulf of Mexico regions, and in Alaska;
• Maintaining a viable and growing nuclear power sector; and
• Increased use of coal-to-liquids and coal gasification processes to produce transportation fuels, and syngas for electricity production use in manufacturing feedstock.

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.