The Australian: Exxon boss warns against exclusive energy policies

GOVERNMENTS that fail to implement the right policy settings for potential gas sources such as shale gas and coal-seam methane risk seeing their economies go "backwards", ExxonMobil chief executive Rex Tillerson warns.

Pointing to the success of North America, where a predominantly free-market approach has helped unlock vast amounts of unconventional gas reserves that have ensured the continent's long-term energy security, Mr Tillerson said countries needed to be careful when administering the industry.

"Governing or setting policy or regulations based on the precautionary principle will stifle innovation and investment and bring innovation to a standstill," he said.

"I recognise this is the objective of some, but if government puts development of these new sources of energy at a standstill, they will find their economies walking backwards."  MORE