The chairman of El Dorado-based Murphy Oil Co. says a bill to reduce carbon output from energy use would not produce the intended result.
Murphy chairman Claiborne Deming said Friday that projected increases in U.S. energy use over the coming 20 years pale next to that of China and India, where millions of people are moving into the middle classes.
Deming says that since nuclear energy generates electricity without releasing carbon, the government should focus on a nuclear future for electricity. But he also said Murphy doesn't plan to invest in alternative energy. Deming says demand for oil will remain high for many years to come.
Deming spoke in Little Rock at an event sponsored by the Arkansas State Chamber of Commerce.