Senior Energy Executive Karl W. Miller Renews Calls on President Obama to Focus on America, and Start Solving Energy and Housing Problems

NEW YORK, Sept. 20 /PRNewswire/ -- Leading Independent Senior Energy Executive Karl W. Miller, through his advisors VBCC, today renewed calls for President Obama to start listening to senior industry executives and experts, resolve the U.S. real estate crisis and put a credible national energy plan in place.

According to Mr. Miller:

The U.S. economy runs on three key factors: i) a stable housing market; ii) affordable and dependable energy supply; and iii) stable employment environment. Without these three critical factors functioning properly, there will be no meaningful economic recovery in the U.S. economy.

The defunct real estate loans in the residential and commercial marketplace must be properly vetted, written down to net realizable value, and moved off the banks, hedge funds and insurance company books. The U.S. regulators must force this to happen without preference for any specific group. There will be bankruptcies, bank failures and forced liquidations; these are the cold hard facts of a capitalist society, which the U.S. economy is founded upon.

Politicians must acknowledge where the U.S. economy and energy industry are today. We have serious and deep rooted problems with no credible national energy plan in place and must start addressing these problems immediately.

The U.S. needs a credible and sensible energy policy and emissions plan. We have "abundant natural gas and other energy resources" to support our energy needs for many years into the future. It is time for Washington to take stock in America and start executing on a credible business plan.

Failure to execute is cause for termination in any business, including Washington politicians, and all things are possible in the November 2010 elections.

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 began his career on Wall Street during the 1980s and has an extensive background in banking, commodities trading, risk management and asset energy asset acquisition and development.

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 is widely viewed as an expert on distressed energy asset acquisitions and has acquired significant energy assets in the U.S. and internationally at significant discounts over 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