Thursday, 19 March 2009

Shame on Shell

Greenbang reports today that Royal Dutch Shell is pulling the plug on its renewable energy investments to focus on its core strengths of oil and gas. According to Reuters, Shell spent around $1.25 billion on green-energy investments between 1999 and 2006. Shell has around 550 megawatts of wind power capacity but last year withdrew from Europe to focus its wind energy generation activities in the US. All investment in hydrogen, solar and wind energy will now cease, with any future renewables investment limited to biofuels.

The decision will further provoke environmental groups who are already concerned over Shell's investments in energy- and water-intensive oil sands projects. The company is featured unfavourably in the new climate change movie, The Age of Stupid, which premiered last week. While Shell's advertising focuses on its involvement in renewable energy, only around 1 percent of its investments actually go to these energy sources.

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