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James Hackett was named President and Chief Executive Officer of the Company in December 2003, and Chairman of the Board of the Company in January 2006. Prior to joining the[…]

Oil is not the whole energy picture, Hackett says.

Question: Is oil a human right?

Jim Hackett: Oil is just one part of the energy picture. It is not the whole picture. We just happen to see at most clearly, because we use it in our cars, but again when you turn on that light switch, there is a very little oil in that equation at all. That is coming from a lot of other resources, so natural oil you picked out as the only one and I am not sure anybody has a right to anything in life. I think we have the right work hard and hope that we get blessed with right answers, but I think we have got to act responsibly. I think we got to work for it and I do not think it is going to be dropped from heaven and I think, some people think that somebody’s new technology would be dropped from heaven I guess. I don’t believe that I am a scientist and I believe in science and I believe in science being patient and that science been anticipated. This is not something like you trying to go to moon or develop atomic weapon; this is a multi element complex model of various energy sources that has a huge infrastructure in place. This is not like starting over a scratch and saying you can just create something out of nothing and that is where people miss it, is to recreate that the infrastructure that we had. I think that technology like combust an engine could actually last in today’s world for over 100 years. Why is that possible? It is just because it happens to be a phenomenal technology. Now, what the next one is going to be? I don’t know, we got to be working on it and we should put a lot of money behind it, but putting 30 billion behind is not going to change the answer more, then putting 50 billion, 50 million behind it probably. Again the right people focused on.


Recorded On: 3/24/08