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.

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