The People of America's Oil and Natural Gas Indusry

Chevron CEO David O'Reilly speaks to Boston College Chief Executives' Club of Boston

Jane Van Ryan

Jane Van Ryan
Posted May 13, 2009

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On Thursday, May 7, Chevron chairman and CEO David O'Reilly addressed 250 corporate executives at the Boston College Chief Executives' Club of Boston. Mr. O'Reilly discussed domestic and global policy issues and the impact of increased taxation on oil and natural gas supplies.

He outlined America's three major energy challenges as:

  1. Meeting supply needs;
  2. Reducing dependence on unstable regions; and
  3. Reducing the impact of fossil fuels on our climate.

A Dublin native, Mr. O'Reilly likened the current economic state in many parts of the world to Ireland before it became the Celtic Tiger. He offered optimism for the global economy, citing growth in BRIC countries as well as the United States. He cautioned, however, that long-term stability and the success of America's economy depends on energy security. Therefore, legislators need to consider the realities of scale and supply as it relates to current and future energy demand. The United States should plan on conventional energy sources remaining indispensible for decades to come, even as greater contributions from renewable and alternative sources are pursued.

To watch an extended excerpt of Mr. O'Reilly's speech covered by New England Cable News, click here.