Speed Dial: Marvin Odum
The Shell Oil president talks about why he's for a carbon cap, his biofuels play in Brazil, and how long it will take to scale up clean energy
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The push for climate legislation went off the rails this year. What will accelerate the transition to clean energy if the U.S. is not going to have a price on carbon?
We have for years advocated an economywide, market-based [cap]. In the absence of that there are some things we can do. For example, we have a price on carbon inside of Shell. We charge ourselves $40 per ton for CO2 emissions. That changes the way we think about the business. We're focusing on natural gas, because it's the way you can have the most immediate impact on reducing emissions.