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Dominion News Releases
May 17, 2001
Dominion CEO Supports Administration Energy
Plan
RICHMOND, Va. – Dominion (NYSE: D) Chairman and Chief Executive
Officer Thos. E. Capps said Thursday that the company supports the goals set
forth in the report by the Bush administration’s energy task force.
Capps said: "The administration is saying the right
things. Now we’ve got to see if it has the political will to see these through.
So it’s critical that all supporters of this plan speak up both publicly and
privately to help fight for what’s right.
"We need power generation. We need improved transmission.
We need more exploration or we’ll see problems beyond California. Energy production
is not magic—it’s got to be created, transported and sold.
"The report is optimistic and realistic. It's optimistic
because it recognizes the promise of America's economic future. It places faith
and confidence in the ability of the American energy industry and its efficient
technology to step up to the plate and master the dual challenge of increased
supply and environmental protection. It's realistic because it recognizes energy's
critical role in our economic growth and confronts the blunt realities of supply
and demand."
Dominion is one of the nation’s largest producers of energy,
with a production capability of 2.7 trillion British Thermal Units of energy
per day. The company has a power generation portfolio of more than 21,000 megawatts,
which is expected to grow to approximately 28,000 megawatts by 2005. Dominion
is also one of the largest independent oil and natural gas exploration and production
companies in North America, with 2.8 trillion cubic feet equivalent of natural
gas reserves, with an annual production capability of over 300 billion cubic
feet equivalent of natural gas. The company has 7,600 miles of interstate natural
gas pipeline with a delivery capability of 6.3 billion cubic feet per day. In
addition, the company operates the nation’s largest underground natural gas
storage system, with more than 950 billion cubic feet of storage capacity. Dominion
also serves about 4 million retail natural gas and electric customers. Visit
the company's web site at www.dom.com.
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