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Tuesday AM May 12th, 2009

The seventh annual KPMG Global Energy Conference begins today at the InterContinental Hotel. Ed Mayberry reports.

image of InterContinental Hotel Houston

The KPMG Global Energy Institute provides a forum for financial officers, risk officers, internal audit directors and tax executives.  This year’s forum follows the recent release of a KPMG survey in which energy executives say that energy independence is not attainable until 2030 or beyond, as KPMG’s Bill Kimble explains.

“And we’re going to look at a couple of the issues that came out in the survey.  One of our opening sessions is called the New Energy Revolution, and that’s really tied to Obama’s cabinet being probably the greenest ever, and us looking at alternative sources of fuel.  We’re also going to look at cost optimization for energy companies.  We have a couple of tax panels—one around carbon capture and another around, kind of, the tax impacts in these uncertain times.”

Shell Oil President Marvin Odum is scheduled to speak, as well as former Secretary of State Madeleine Albright. 

“And she has experience in specific countries and dealing with the policies and she’s agreed to talk about that, so…Marvin Odum has really pushed navigating the economic uncertainty and the green economy, so I’m really looking forward to his speech, also.”

Ed: “Is there like a theme for this year?”

“I think the theme is around the Obama administration and the trend towards going green.  You know, then there’s also a theme of ‘is energy innovation sustainable?'”  

The conference is attended by CEOs and CFOs from the finance side—controllers, treasurers, audit committee members and board members. 

Ed Mayberry, KUHF Houston Public Radio News.