Quotes from the Global Energy Summit

NEW YORK (Reuters) - Utility and oil industry executives met at Reuters' U.S. and global headquarters on Wednesday to discuss industry trends.

The following are selected quotes from the final day of the Reuters Global Energy Summit in New York and London.

COMMISSIONER NORA BROWNELL, U.S. FEDERAL ENERGY REGULATORY COMMISSION

"We have a very fragmented utility industry in the country and I think that's inefficient."

State regulators "really have to step back and say 'What do I need? I need well-capitalized companies who can invest in assets and bring value to the customers.' The state perspective is very different on that. It is 'What is in it for my state, for me?' which in the end may not bring the best value to the customer."

"It would be completely hypocritical to say we don't accept foreign ownership when half our utilities took their stranded-costs money and ran like 12-year-old boys to the mall to buy foreign utilities."

"You have an aging infrastructure in the industry itself. You go to (a) transmission conference and there's a 70-year-old guy who they brought back from retirement five times because he's the only guy who understands the system, and that just scares the hell out of me."

ROC OIL (ROC.AX: Quote, Profile, Research, Stock Buzz) HEAD JOHN DORAN

"The one company, one basin, narrow focus has gone. Unless you have a nice piece of Saudi Arabia, you limit growth opportunities if you concentrate on one area. Distance is dead; it's the least limiting factor nowadays."  Continued...