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2.02.2011

6 Big Oil Companies Jump on Renewable Energy Bandwagon

Has anyone else noticed the influx of TV advertising for Companies who are now responding to the Green Initiative?  Specifically, the Big Oil Companies.
  • Exxon Mobil
  • Shell 
  • Koch Industries (from my research they do not promote clean energy)
  • BP
  • Chevron
  • ConnocoPhillips
Why would Big Oil companies join in the research and development of Renewable Energy Production?  (That was the question I started asking myself)  My Summary and Conclusion is at the end of Article. Scotty

I decided to nose around their websites and I've Posted information I found on the Big Oil Companies Web Sites. emphasis added by Scotty


The Following Information is from the Exxon Mobil's Energy Outlook.


EXXON MOBILE- Rex W. Tillerson, chairman and chief executive officer.-
"The growing use of natural gas and other less-carbon intensive energy supplies, combined with greater energy efficiency in nations around the world, will help mitigate environmental impacts of increased energy demand. According to the Outlook, global energy-related carbon dioxide emissions growth will be lower than the projected average rate of growth in energy demand. 
“Our energy outlook clearly points to a growing demand for energy globally which reflects improving living standards for millions of people around the world. ExxonMobil will continue to invest in technology and innovation to develop new economic energy supplies to help meet this demand while looking for ways to reduce environmental impacts,” said Rex W. Tillerson, chairman and chief executive officer. 

“The forecasts also show a shift toward natural gas as businesses and governments look for reliable, affordable and cleaner ways to meet energy needs,” Tillerson said. “Newly unlocked supplies of shale gas and other unconventional energy sources will be vital in meeting this demand.”

Rising electricity demand -- and the choice of fuels used to generate that electricity -- represent a key focus area, which will have a major impact on the global energy landscape over the next two decades. According to the outlook, global electricity demand will rise by more than 80 percent through 2030 from 2005 levels. In the non-OECD (Organization for Economic Co-operation and Development) countries alone demand will soar by more than 150 percent as economic and social development improve and more people gain access to electricity. 

According to ExxonMobil’s Outlook, efforts to ensure reliable, affordable energy while also limiting greenhouse gas emissions will lead to polices in many countries that put a cost on carbon dioxide emissions. As a result, abundant supplies of natural gas will become increasingly competitive as an economic source of electric power as its use results in up to 60 percent fewer CO2 emissions than coal in generating electricity. Demand for natural gas for power generation is expected to rise by about 85 percent from 2005 to 2030 when natural gas will provide more than a quarter of the world’s electricity needs. Natural gas demand is rising in every region of the world but growth is strongest in non-OECD countries, particularly China where demand in 2030 will be approximately six times what it was in 2005." Article Continues 

Next Clipped article from "Risk Factors"
Government sponsorship of alternative energy. Many governments are providing tax advantages and other subsidies and mandates to make alternative energy sources more competitive against oil and gas.  

Governments are also promoting research into new
technologies to reduce the cost and increase the scalability of alternative energy sources

We are conducting our own research efforts into alternative energy, such as through sponsorship of the Global Climate and Energy Project at Stanford University and research into hydrogen fuel cells and fuel-producing algae. Our future results may depend in part on the success of our research efforts and on our ability to adapt and apply the strengths of our current business model to providing the competitive energy products of the future. See "Management Effectiveness" below. Continues


Shell Article Link

Shell is involved in 11 wind projects in Europe and North America with a total generating capacity of around 1,100 MW (Shell share 550 MW). Almost 900 MW of the total capacity come from some 722 wind turbines of eight wind projects in the USA that are part of a 50:50 joint venture. The biggest single one, the 264 MW Mount Storm wind project in West Virginia, USA, began operations in 2008.

We are also 50:50 partners in three joint-venture wind projects in Spain, Germany and the Netherlands. All in all, they involve a total of some 170 wind turbines with an aggregate capacity of some 200 MW Continues Here

  WATCH VIDEO: Oil Billionaires Fight Climate Legislation

Oil billionaires David and Charles Koch ...Koch Industries, the nation's second-largest private company with oil refineries and pipelines

LINK... each year, Koch Industries is likely responsible for about 300 million tons of carbon dioxide pollution every year. Flint Hills Resources, Koch's refining subsidiary, processes 300 million barrels of oil a year. This one company -- with its refining, pipeline, chemical, fertilizer, cattle, and forestry operations -- is involved in up to five percent of the entire United States 7-gigaton carbon footprint. Continues


BP 
"is contributing to the growing low-carbon energy sector by focusing on technologies that we believe we can build into substantial long-term businesses"
From Page: BP Alternative energy

   


Case studies 

 

Chevron and Solar

Future Article: How did the Investments by Big Oil Companies Increase the Cost of Renewable Energy

email Scotty

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