One of the World’s Largest Oil Companies is Spending $1 Billion a Year on Green Energy Research
“Exxon Mobil is currently investing $1 billion per year in research into alternative forms of energy. More than one hundred projects under the company’s umbrella receive funding, ranging from algae that produce biofuels to efforts to transform emissions into electricity. Exxon Mobil’s alternative energy research seems like a tacit acknowledgement that the energy landscape is changing, and that soon our reliance on fossil fuels will give way to more environmentally responsible alternatives.
The company has reportedly settled upon five to ten key areas of study, the company’s Vice President of Research and Development, Vijay Swarup, told Bloomberg…”
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https://futurism.com/worlds-largest-oil-companies-spending-1-billion-green-energy-research/amp/
Yes, because they receive more in publicity, tax benefits and carbon credits than they spend. If anybody believes they are doing it out of the goodness of their hearts, you need to grow up.
George Ford No one believes they’re doing it from the goodness of their heart, and quite honestly, don’t really care. I’m just glad they’re doing it. Sure, publicity, tax benefits, and carbon credits play into it, but so does the public’s increasing demand for alternative forms of energy, especially as we’re entering an age in which the market dictates what they produce for us rather than the other way around.
Wasim Muklashy Don’t be ridiculous. While there will always be that tiny percentage of people who want “alternative” forms of energy (as long as it is subsidized by the vast majority who use conventional forms of energy), they are not a true market force. Take away the mandated use of the end product, credits and tax benefits and you will see those “research programs” shut down in a matter of weeks.
George Ford What’s ridiculous is your blatant ignorance. General Motors is all in (https://www.wired.com/story/general-motors-electric-cars-plan-gm/). Volvo is all in (https://goo.gl/9iVkRB). VW is half in (https://goo.gl/MVBsqy). Jaguar and Land Rover are all in (https://goo.gl/s8H5z1). Nissan, Mitsubishi and Renault are half in (https://goo.gl/fDwCGf). Ford is half in (https://goo.gl/KRQsQT). China is completely in (https://goo.gl/f4gYYf). India is completely in (https://goo.gl/dRaCB9). Europe has jumped in (https://futurism.com/automakers-building-high-powered-ev-charging-network-europe/). Even Saudi Arabia for shitssakes(https://inhabitat.com/saudi-arabia-announces-plan-for-500b-megacity-powered-by-renewables/). Basically, the majority are all already there. All while our labor department, even under the rotten pumpkin in chief himself, themselves claim that renewable jobs are the fastest growing job sector in the country (http://m.digitaljournal.com/business/labor-dept-renewable-energy-jobs-fastest-growing-sector-in-usa/article/506220). You’re asleep dude. The new generations give zero fucks about your “conventional” forms of energy. That’s so 1900s…
Of course I don’t expect you to look at any single one of those ‘research program’ links before you project your biases like every other anonymous troll that periodically blahs through here, but you go ahead and enjoy what’s left of those dead dinosaurs days…
Thank you department of research