Oil Majors Testing Clean Energy Waters
by Nick Hodges (Green Chip Stocks) While attending the Renewable Energy Finance Forum Wall Street last week, I was almost surprised to see an entire discussion dedicated to how Big Oil plans on entering the cleantech business. The talk was led by Don Paul, Executive Director of the University of Southern California Energy Institute. … How Big Oil Will Enter the Renewable Energy Market: This was another five bullet set. First, of course, they’re going to use renewable energy to produce oil, freeing up more natural gas to send to market. (Insight: this means Big Oil thinks nat gas will be more expensive than renewables.) … Lastly is integrating infrastructures for biofuels, also a glove-fit for Big Oil. There are already increasing ethanol blend rates required by law. And though biofuels still make some people cringe, once we nail down successful enzymes for cellulosic and feedstocks for biodiesel (algae?), the market should blossom nicely once again.
Big Oil can leverage their infrastructure ownership and know-how to seamlessly enter this market. And they already are. READ MORE
