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US energy policy "detached from reality", says Chevron

ENERGY POLICIES based on unrealistic expectations could do more harm than good to the US economy, according to Chevron's next boss. Speaking to the US Chamber of Commerce in Washington last month, Chevron vice-chairman John Watson – who takes over from David O'Reilly as chairman and chief executive officer at the end of the year – said overly restrictive policies could backfire, increasing the nation's dependence on foreign oil and discouraging investment in new technologies for improving the environment and for developing alternative fuel sources. "The sheer scale of our energy needs is far beyond the capacity of any one source or technology," said Watson. "It's false to assume that rene

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