The schism is complete between the strategies of European oil companies, which proclaim loudly their commitment to renewable energies, and their American competitors, who are conspicuously abandoning this field.
“Royal Dutch, Shell, Total, Eni and Equinor have started their transformation from oil company into energy companies,”
observes Matthias J. Pickl, researcher at King Fahd Saudi University, in a study.
Green energy less profitable than black gold
On the other hand, Exxon, Chevron and the Brazilian Petrobras
"remain real laggards, focus on hydrocarbons and have very little activity in renewables"
Exxon Mobil limits itself
"to contributions without vision, without investment plan or budget"
, notes Matthias J. Pickl in his study.
Chevron tried to go green.
In the 2000s, he invested in geothermal projects, wind farms and solar power plants.
But, fifteen years later, he decides to leave it.
It doesn't pay off enough, compared
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