Mar 25, 2009 at 5:53 pm 1 comment

Oil company Shell announced at a press conference last week that it has given up on investing in wind, solar and hydrogen energy because these sectors have not been profitable. The company plans to continue with some wind projects in the US but has eliminated wind projects in Europe. The company will focus its renewable energy involvement in biofuels.

The company has been called shameless by some in the media for choosing profits over moral imperatives. But it should not be much of a surprise when a Big Oil company operates only in its best interests. Bottom line, Shell is sticking to oil because it is much cheaper than any other energy option. Another factor to Shell’s decision, and what has environmentalists fuming, is that climate change and the environment, which used to be hot topics in the media, have been replaced by the economic crisis. Being financially stable in an ailing economy is more important now to average Americans. Environmental issues in the news have taken a backseat to unemployment, housing foreclosures, lay-offs and big banking scandals. This is what Shell is taking advantage of. Oil companies are looking to be profitable first, which also includes marketing and the face the company puts on for consumers.  If greening the environment is only a trend to citizens, so will the interest that companies have for the issue.


Entry filed under: Environment.


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