Skip to comments.Oil Companies Loath to Follow Obama’s Green Lead
Posted on 04/07/2009 1:20:41 PM PDT by reaganaut1
The Obama administration wants to reduce oil consumption, increase renewable energy supplies and cut carbon dioxide emissions in the most ambitious transformation of energy policy in a generation.
But the worlds oil giants are not convinced that it will work. Even as Washington goes into a frenzy over energy, many of the oil companies are staying on the sidelines, balking at investing in new technologies favored by the president, or even straying from commitments they had already made.
Royal Dutch Shell said last month that it would freeze its research and investments in wind, solar and hydrogen power, and focus its alternative energy efforts on biofuels. The company had already sold much of its solar business and pulled out of a project last year to build the largest offshore wind farm, near London.
BP, a company that has spent nine years claiming it was moving beyond petroleum, has been getting back to petroleum since 2007, paring back its renewable program. And American oil companies, which all along have been more skeptical of alternative energy than their European counterparts, are studiously ignoring the new messages coming from Washington.
In my view, nothing has really changed, Rex W. Tillerson, the chief executive of Exxon Mobil, said after the election of President Obama. We dont oppose alternative energy sources and the development of those. But to hang the future of the countrys energy on those alternatives alone belies reality of their size and scale.
The administration wants to spend $150 billion over the next decade to create what it calls a clean energy future. Its plan would aim to diversify the nations energy sources by encouraging more renewables, and it would reduce oil consumption and cut carbon emissions from fossil fuels.
(Excerpt) Read more at nytimes.com ...
Yeah Salazar is thinking about campaign donations....from wind and solar entities....
The author of this NY Times piece, Jad Mouawad, chose the wrong adjective to describe the Obama regime's policy prescriptions. If he had wanted to write honestly, what he should have written is:
The Obama administration wants to reduce oil consumption, increase renewable energy supplies and cut carbon dioxide emissions in the most foolish transformation of energy policy in a generation.
Not yet, anyway.
Looks like Hussein will have some brand new companies to take over when he gets back.
of course they like to make a profit. I guess Obama will have to offer them federal support to keep them profitable.
wind is about 50 times more expensive per khw than coal and would need huge taxpayer subsidies
A recent study said 80 percent of wind generation must be backed up via fossil fueled generation. In Texas, the figure was > 90 percent.
wind and solar are unreliable and unpredictable. You cannot run a grid that way.
Oh really. Well then, a bailout is in order, apparently. Then, like with the mafia, you'll do whatever we say--or else.
“Bambis energy secretary said wind could replace 3000 coal fired power plants.”
And,, it will only take 3 trillion windmills to do it. Green jobs!
They don't need the Fed Nationalizers to move in and "save" them. Big Oil has been perfectly happy passing along locally mandated 'boutique' gasoline prices to the consumers, and keeping the profits to plow back into leases, and rigs, and non-union people.
You might also notice how many of the Big Oil Companies can move headquarters overseas in a heartbeat. They are perfectly willing, and can afford, to sit out The President of Crazyville's self induced financial disaster. Amazing how spending 100 years bribing Third World dictators prepares Big Oil for dealing with this White House...
Oil exploration and production has always been a cash on the barrelhead business. Oil men don't like playing financial games. Our Chicago Shyster-in-Chief may find it hard to grift and blackmail people who aren't stupid and greedy.
Maybe if the wind is biden and hussein lighting their farts live on larry king.
Doesn't need to. Cap & Trade anyone? When Brrack gets done with his green initiatives (read OVERTAXATION) the oil companies will be crying uncle. Brrack will be looking out for the children, the environment and the world.
Oil companies don't need the money for a bailout? The mob has ways of MAKING you need the money, then they own you.
Sorry to say it.
Of course not.
You've got it right. With China coming on line with gas powered cars, all the oil companies have to do is offer a discount to them to establish new markets. The citizens of this country will be walking or driving motor scooters or that ridiculous 2 wheeled motorized wheel chair GM is touting and India and China will be driving SUVs and Pick up trucks! However, as soon as we are conquered by China after we throw away our nukes, we will be able to drive gas powered cars again also!
HEADLINE: “Oil Companies Loathe To Waste Money, Unlike Obama!”