What planet is the energy industry on?
I’ve written a couple of posts recently about the retail and automotive industries seeing green as the way out of the recession, but the rather exceptional exception to this movement is the energy industry with BP, Shell and Centrica all divesting themselves of renewables interests in recent months.
What on earth are they thinking?
Obama has made major green energy pledges, the UK Government has a huge raft of low carbon legislation coming on board and the climate change negotiations in Copenhagen this year make the Kyoto protocol conferences look like a vicar’s tea party. Even though the G20 meeting in London largely steered clear of climate change, it did get some of the less enthusiastic nations to agree to take part in Copenhagen.
Low carbon pledges mean investment in, and incentives for, low carbon technology. So why on earth is Big Oil going back to, erm, oil?
It has been said that when the transistor came along it was ignored by the then dominant vacuum tube (valve) industry and, as a result, none of those companies is still in business. Big Oil should take note – they could end up as the fossilised fuel industry.