Global climate change is an issue of monumental scope and scale. Policy responses under consideration have implications for environmental quality , energy security, and the economic health and competitiveness of our nation.

Crafting laws and regulations that can have such dramatic, far reaching, and profound effects is a daunting challenge.

Murphy Oil Corporation has been studying the climate change issue for several years, and has sponsored the Massachusetts Institute of Technology’s “Joint Program on the Science and Policy of Global Change.”

Early in 2008, Murphy initiated an interdisciplinary Climate Change Work Group. The Group provides corporate and comprehensive focus to this complex issue and integrates engagement across all Murphy business units.

The Climate Change Work Group recommended and senior management has adopted a set of climate principles.

The seven principles serve to guide Murphy Oil Corporation, its shareholders, policymakers, and other stakeholders in how to best meet the domestic and global policy challenge before us.

Promote global participation
Policies should recognize the global magnitude of the challenge and provide for international offsets.

Promote reasonable and flexible regulations
Policies should ensure equity yet recognize distinctions among emitters to minimize economic dislocations.

Support efficient and transparent markets
Government-initiated climate markets must guarantee transparency, fairness, and provide certainty.

Recognize a realistic energy future
Policies should ensure that existing energy sources are preserved until viable, competitive, and scalable alternatives emerge.

Promote international fairness
Policies should not encourage the export of emissions overseas, and should credit international GHG reductions.

Promote conservation
Policies should promote conservation across all sectors of the economy, including consumers.

Promote efficiency
Government policies should support all sectors of the economy to improve energy efficiency.