Big Oil Embracing Clean Energy….In Some Cases

Soon after the inception of 2GreenEnergy in 2009, my brother asked me why Big Oil doesn’t diversify into renewables.  I replied that it was a matter of core competencies; there are few if any synergies between oil exploration and the technology associated with things like solar and wind.  Then along comes the large-scale of offshore wind, proving me completely wrong (I’m happy to report).Offshore wind involves drilling into and anchoring equipment into the seabed, and this, of course, is fundamental to both industries. Moreover, as demand for oil is predicted to peak in the middle of the 2020s, Big Oil is looking for new strategies to maintain their cash flows in the new clean energy economies.

Not surprisingly, Shell, which repeatedly distinguishes itself as the most progressive organization in the industry, appears to be the most aggressive in this space. To its credit,  Shell (apparently, at least), has never taken the road that companies like Exxon Mobil have traveled, i.e., embarking on elaborate disinformation campaigns to create doubt about climate change and the feasibility of renewable energy.