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Posted Wed Mar 18 2009: from BusinessGreen:
Shell halts wind and solar spending in favour of biofuels
Oil giant Shell has announced it is to focus its future renewable energy strategy on biofuels and halt investment in technologies such as wind and solar, which it maintains are failing to offer sufficient economic returns. Executives at its annual strategy presentation said that the company remained committed to building a "material business in alternative energy", but would take a more targeted approach to investment and primarily focus on biofuels.... "If there aren't investment opportunities which compete with other projects we won't put money into it," she said. "We are businessmen and women. If there were renewables [which made money] we would put money into it."
[Read more stories about: capitalist greed, economic myopia, corporate malfeasance]
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Period says: "Your premise about money is only a theory."
Vegan says: "Actually, the physics that explain why the world goes around is just a theory."
Nancy says: "I presume you'll invest your money in making biofuels out of your own s*** because obviously there's plenty of it!"
Heartless Phil says: "I say BOYCOTT!!!"
Haley says: "And GIRLCOTT!!!"

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'Doc Jim says:
Hard to argue with that! Money makes the the world go around!

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