Senior Energy Executive Karl W. Miller Endorses Clean and Sustainable Renewable Energy Development Efforts

WILMINGTON, N.C. and NEW YORK, Sept. 9 /PRNewswire/ -- Leading Independent and Senior Energy Executive Karl W. Miller, through his advisors VBCC, endorsed the movement for sustainable and economic renewable energy development in the United States today. Mr. Miller is a major supporter of sustainable clean and renewable energy which is cost-effective and does not rely upon subsidies.  

There has been much dispute about the timing and economics of developing clean, sustainable and economically renewable energy since President Obama took office, including the failed Cap and Trade and Climate Change initiatives. Mr. Miller was one of the first energy executives to advise the Obama administration that their proposals were poorly timed, would not be acceptable to US businesses and would be detrimental to the critical economic recovery underway.

Mr. Miller urged the current administration and policymakers throughout 2009 and the first half of 2010 to pull back and wait until 2011 to begin a fresh start on formulating a comprehensive, rational and sustainable clean and renewable energy plan for the United States.

In the end, Mr. Miller and other senior energy executives prevailed and the proposed Cap and Trade and Climate Change initiatives were tabled by Senate Majority Leader Harry Reid, and will be taken up again in 2011.

Mr. Miller applauds both the Democrats and Republicans for taking this wise step, which will allow for a much more detailed thought process and economic analysis to be placed into a revised Climate Change initiative for the United States. Mr. Miller believes this will allow for credible, long-term renewable energy initiatives to be undertaken which must demonstrate that such projects can be economical and survive without massive federal and state subsidies, which will in turn allow the capital markets to provide the necessary funding to develop and support the renewable energy industry more robustly.

About Mr. Karl W. Miller:

Mr. Miller is a globally recognized energy executive and institutional investor with a balance of both financial and energy sector expertise. Mr. Miller has a long history in the global energy business and has held a variety of executive management positions within the United States, Europe and Asia. Mr. Miller has been involved in transactions in excess of $25 billion in energy-related assets during his career.

Mr. Miller is an energy industry expert with focus on trading, risk management, power plant development and overall management of energy companies in the oil, natural gas and renewable sectors. Mr. Miller has built, restructured and managed energy businesses for major public energy companies on several continents, including PG&E Corporation, Electricite de France, El Paso Energy, Enron Corporation and JPMorgan Chase.

Mr. Miller holds an MBA in Finance from the Kenan-Flagler Business School at The University of North Carolina, Chapel Hill. Mr. Miller also holds a B.A. in Accounting from Catholic University located in Washington, DC.

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SOURCE VBCC