Energy - Big Oil abandons clean energy

Tuesday, March 16, 2010




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Big Oil abandons clean energy

Monday, April 13, 2009
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By Daily Crux Editor Brian Hunt:

It's funny what focusing on shareholder responsibility and a sustainable business does to your view on solar, wind, and bio energy.

For large oil companies like ExxonMobil, BP, and Royal Dutch Shell, it leads you to pretty much ignore it all. Living in an oil- and gas-free world sounds nice, but our current clean energy technology simply doesn't meet our needs. Not by a long shot. And if you're running a for-profit oil company, it's not even worth your time to pursue.

That's why Royal Dutch Shell said last month that it will freeze its investments in wind, solar, and hydrogen power. ExxonMobil - the world's best-managed oil company - has called it a pipe dream for years. As this article shows, we're all going to be dead before Big Oil becomes Big Green.

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Topics:		Energy \| Boondoggle

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