Technologies such as solar, hydro power, or wind, or any other renewable technologies, will not be invested in by Shell as they are not business, stated the Anglo-Dutch oil company today. This company has a plan to make more investments in biofuels, which carry the blame for the escalation in the cost of food, and the destruction of our forests, as the environmentalists state. The company affirmed that it would focus on pursuing other cleaner strategies of getting fuels, like carbon capture and sequestration (CCS) technology. It intended to utilize CCS to lower emissions from Shell’s shady and energy-intensive oil sands projects in northern Canada.
It was declared by the company that no attractive investment opportunities were offered by alternative technologies, such as the RV solar panel. Linda Cook, Shell’s executive director of gas and power, declared: If there are not investment opportunities which vie with other projects we cannot put cash into it.
Shell expounded biofuels fitted its core business of providing fuels, logistics, trading and branding.
Cook also said: “It now seems as if biofuels are one alternative closest to what we offer in Shell. Solar and Wind power are fine, however, everyone will continue to investigate other prospects in which to add to their investment portfolios, even though there are other markets with big packages. The increasing of its dividend payments this year to $10bn, or about 5%, was also confirmed by the company. Shell was criticized by the Friends of the Earth, investment freezing in such renewable resources like the use of wind for biofuels.
The campaign group clarified: “Shell is supporting the wrong party in terms of renewable energy biofuels, leading to more emissions than the gas and diesel they replace. Shell, at least, is being a tad more honest about the fact that they seem to be a fossil fuel corporation. It witnessed the restrictions of the green wash it was emitting some years ago.”. Shell owns around 550MW of wind farm capacity around the globe, ample energy to supply power to a town the size of Sheffield when the wind is blowing. Last annum, it quit the 1000MW London Array Project, the cooperation that intended to construct what would be the world’s largest offshore wind farm in the Thames Estuary. E.ON, a former partner in the project, has not yet chosen to go on with the 3B pound requirement of the investment.
Extroverted CEO Jeroen wagon der Curve confirmed that the corporation had gone through some “technology baths” in the past when it supported unprofitable technologies. The Firm has foretold that by 2025, eighty percent of energy will come from normal fuels and twenty p.c. from alternative power sources like the RV solar panel. Although, on alternative technologies, it is spending just over 1%.
Over the last 5 years, only $1.7bn of the $150bn it has invested has gone towards alternative energies like the RV solar panel. Now a huge portion of its business, Cook states that at one time, only 1% of the budget was invested by the company on natural gas in a liquid state.
The company claimed it would raise debt levels to maintain dividend payments and its spending programme. Wagon der Curve claimed that energy needs over the long haul are healthy, and that oil prices would recover.
1 responses to Bio Fuels Are Shell’s Preferred Alternative Energy Source For The Bigger Future Investments
At times the attitude of oil companies like Shell remind me of nothing so much as a vendor on the Titanic arguing about how best to make more money before the ship finally breaks entirely apart. Is there not ever a moment when business concerns take a back seat to raw survival? Perhaps I am being a bit dramatic, but at what point does a company have to admit that it is in the business of producing poison and driving towards self-destruction both of which SURELY must be UNPROFITABLE eventually. There are some great interviews with major researchers concerned with alternative energies at http://www.ourblook.com/component/option,com_sectionex/Itemid,200076/id,8/view,category/#catid92 which I have found useful on these subjects.
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