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Friday, 18 November 2016

Oil groups ‘not investing enough’ in green energy

Oil groups ‘not investing enough’ in green energy:
"Oil companies risk being left behind in the transition to low-carbon energy according to a report that says the industry is not investing enough in green technology.

Growth in demand for oil will slow to an annual average of 0.5 per cent in the next 20 years, while renewable energy output could expand almost fivefold, according to the study published on Friday by Wood Mackenzie, the consultancy.

Similar forecasts have been heard before but this one will carry weight with oil companies because it comes from one of the industry’s leading research providers."

'via Blog this'