being of the environment deserves our full attention and a dedication by our industry to be leaders in energy efficiency and in the search to provide consumers with a wider range of affordable cleaner energy choices. It is increasingly apparent that the problems we face, like climate change, are so complex and broad-based, as to defy individual action. Perhaps more than any other issue we face, addressing climate change, in an economically sound manner, demands that we work cooperatively to find solutions. It is clear that the policies of one country to reduce emissions will have little impact if its actions are not taken in concert with the rest of the world. Likewise, energy stability must be addressed globally, with broad cooperation. Ladies and Gentlemen As we look to address the challenge of climate change and create the conditions for sustainable economic growth, we must pursue an energy policy framework that is both robust and flexible. We can only do this by separating what is theoretically possible from what is realistic, and by examining the real economic costs and benefits of various policy approaches. Over time, the world will likely transition away from the current fossil fuel-based energy economy. However, we don't yet know which fuels or technologies will emerge on the path ahead. Nor, can we accurately predict how long this transition will take. Recognizing the inherent uncertainty in the process of transition to new forms of energy, we must pursue an “inclusive” energy strategy, one that recognizes the risks and uncertainties, emphasizes cost-effective solutions and does not presuppose where we will find the solutions to the challenges we face. --MORE
