Turning black green

According to an article in Business Week, Big Oil has become the biggest investor in the race to create green fuels. The industry claims to have invested $71 billion into zero- and low-emissions and renewable energy technologies. The U.S. government has spent $43 billion on similar efforts during the same period according to the trade group American Petroleum Institute (API).

Environmentalists counter that this is probably just window dressing. Indeed API report that just $9 billion of the $71 billion is for renewable energy while the rest has gone towards greening the fossil-fuel business.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: