ConocoPhillips, Tyson Foods energy venture in jeopardy
by March 25, 2009 10:52 am 67 views
ConocoPhillips CEO Jim Mulva says the future of a $100 million joint energy venture with Springdale-based Tyson Foods Inc. is in doubt.
ConocoPhillips and Tyson Foods announced in 2007 a project that would convert animal fat and other animal byproducts into diesel fuel. Mulva told Roby Brock last week that a federal tax incentive supporting such alternative energy products was not sustained.
“That [federal incentive] is being phased out and without that what we really find is that there’s no economic incentive at all,” Mulva said. (The City Wire has requested comment from Tyson Foods. We will update when their comment is received.)
Mulva also said an effective national energy must “focus on and diversify and support the development of all forms of energy.”
The energy company CEO also shared his thoughts on how Gov. Mike Beebe recruits business to Arkansas.
Link here to Brock’s Talk Business report, and link here to a 60-second video segment of Brock’s interview with Mulva.