Stunner: Oil Execs Don't Believe The U.S. Gets Off Foreign Oil Anytime Soon

KPMG’s Global Energy Institute conducted a survey of oil and natural-gas executives asking their take on the prospects of foreign oil free United States by 2030. The answer from the executives: Not a chance!

Bloomberg: Only 16 per cent of oil and natural-gas executives said that by 2030 the U.S. will be able to depend solely on its own energy supplies, according to a survey by KPMG LLP’s Global Energy Institute. A majority said it will be after 2015 before it’s “viable” to mass-produce alternative energy.

KPMG didn’t really have to conduct a survey, it could just look at the balance sheet of these energy companies. It’s apparent the oil and gas execs aren’t sold on a wind or solar future.

Here’s some other fun findings from the survey of 382 U.S. financial executives from oil and natural gas:

  • 35% see wind energy as the biggest winner among energy sources
  • Fossil fuels are the big losers under Obama’s watch: 42% think coal loses the most, 36% think oil loses most.
  • 47% don’t buy man made globale warming, instead, they agreed with the statement that “global warming, if it is occurring, is a natural weather cycle.” That’s down from 62% last year.
  • 18% would support a cap and trade, but 23% back a carbon tax.
  • 65% expect to lay people off at their companies.
  • 17% expect an increase in spending.

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