March 31, 2009

Big oil stingy with green investments?

Big oil companies BP, Chevron, Conoco Phillips, ExxonMobil, and Shell are said to be big misers when it comes to renewable energy investments even though they spend millions of advertising dollars in green energy promotion, according to advocacy group the Center For American Progress.

The group's new report says that the five companies made a combined profit of $100 billion last year but they just invested an average of 4% of their total 2008 profits in renewable and alternative energy ventures.

More on this post...
Post a Comment