John D. Hofmeister on Energy Security
John D. Hofmeister, President of Shell Oil Company, spoke at Texas A&M today at the invitation of the Dwight Look College of Engineering. I had the option of going to this or my Engineering Ethics lab, and since I find energy sources interesting both politically and technically, it was an easy decision.
I wasn’t sure what to expect beforehand (and had actually forgotten all about it until I saw it on my Palm Treo’s calendar today). Oil companies definitely have a negative stereotype these days, and I’ve heard from friends who’ve interned at them that their workplace culture isn’t as conservation-friendly as their PR department likes to pretend. Still, I understand they’re a company whose responsibility is return on investment and overall company value. The fact that they are profitable should hardly be cause for shame. It is clearly in their best interest to continue to invest in their current business, primarily oil collection and refinement, while exploring other sources of energy to maintain long-term viability. The”obscene profits” of these companies gives them a unique opportunity to fund such research, which at least Shell appears to take seriously.