123andy

Shell Boosts Renewable Energy Spending: Will Big Oil Really Go Green?

This is pretty confusing story. Shell spending 1Billion $ to reduce greenhouse gas emissions over 5 years should not be included here since all oil companies, including ExxonMobil have been investing heavily (much more heavily than Shell) to improve their efficiency and cost of doing business. None of the companies mentioned are really investing big bucks to advance new green technologies, BP is running a solar business that is based on "old" solar photovoltaic and is nor the technology of the future. When you are able to report that any of the oil majors are spending over 10% of their anual capital investment on green technologies and are planning to grow it to 25-30% then you are talking real stuff. I am not sure that would be a good thing since they know the oil business but not the alternate energy business and their past track record is lousy. Biofuels are at least similar to the oil business.