Shell goes cold on wind, solar, hydrogen energy

Reuters ^ | Mar 17, 2009 | Tom Bergin

[neverdem]

LONDON (Reuters) - Oil Major Royal Dutch Shell Plc doesn't plan to make any more large investments in wind and solar energy in the future and does not expect hydrogen to play an important role in energy supply for some time.

"We do not expect material amounts of investment in those areas going forward," Linda Cook, head of Shell's gas and power unit told reporters at a press conference on Tuesday.

"They continue to struggle to compete with the other investment opportunities we have in our portfolio," Cook said of solar and wind.

Shell's future involvement in renewables will be principally limited to biofuels, which the world's second-largest non- government-controlled oil company by market value believes is a better fit with its core oil and gas operations.

In the past year, the company said it was refocusing its wind business on the U.S. as it pulled out of European projects.

Shell has around 550 megawatts of wind power capacity but does not break out figures for investment in each renewable energy source.

From 1999-2006 Shell invested around $1.25 billion in green energy, according to Reuters analysis of Shell's statements. Wind played a large part of that.

One renewables analyst said the decision could reflect the $100/bbl drop in oil prices since July which has eased concerns about energy supply and the economic crisis which has pushed environmental concerns down the agenda.

"There may not be any political pressure on them to invest in renewables at this particular stage," the analyst, who asked not to be named, said.

The decision may anger environmental groups who, in recent years, have put pressure on Shell over its major investments in Canada's oil sands, an energy and water intensive business which involves squeezing crude from bitumen-soaked soil.

While Shell's advertising focuses on...

[garyhope]

Finally some pragmatic realists in the world.

It’s a start.

[Gator113]

But wait... this could screwup Obama’s and Pelosi’s Most Wonderful Adventure..

[Cowboy Bob]

I’m just waiting for BP to drop their “BP: Beyond Petroleum” nonsense.

[oyez]

Wind and solar energy are only a drop in the bucket.

Why invest in anything else that would be subject to extreme government regulation?

[Parley Baer]

Yep, the world of reality setting in.

[USFRIENDINVICTORIA]

“The decision may anger environmental groups who, in recent years, have put pressure on Shell over its major investments in Canada's oil sands, an energy and water intensive business which involves squeezing crude from bitumen-soaked soil.”

The oil-sands net over seven units of energy, for every unit of energy consumed in the production process. This is a better net gain than produced by wind turbines; and far better than photovoltaic cells.

http://www.rogerhelmer.com/sustainability.pdf

[truthguy]

Truth will eventually win out in the area of energy. Solar and Wind together will not produce more that 2-3% of what we need for energy in the next 40 years.

The people pushing these technologies are frauds for the most part. Either that or they are as dumb as a box of rocks.

[freekitty]

We live in a world of phony PR

[BOBTHENAILER]

Great Post

[CedarDave]

From the UK Guardian:

Shell dumps wind, solar and hydro power in favour of biofuels

Shell will no longer invest in renewable technologies such as wind, solar and hydro power because they are not economic, the Anglo-Dutch oil company said today. It plans to invest more in biofuels which environmental groups blame for driving up food prices and deforestation.

Executives at its annual strategy presentation said Shell, already the world's largest buyer and blender of crop-based biofuels, would also invest an unspecified amount in developing a new generat­ion of biofuels which do not use food-based crops and are less harmful to the environment.

Shell dumps wind, solar and hydro power in favour of biofuels

[steelyourfaith]

Jason Lewis, substitute host for El Rushbo, August 11, 2008 on the E.I.B Network:

"The federal government has to subsidize windmill production through production tax credits of about 1.8¢ per kilowatt. Wind Farms also receive an accelerated depreciation. Wind farms are also land intensive. They produce a fraction of the energy of a traditional power plant but they require 100 times the acreage.

From the National Center for Policy Analysis: to produce a 1000 megawatt power plant a wind farm would require 192,000 acres or 300 square miles. A nuclear plant would need about 1700 acres (or 2.65 mi²), and about 3 mi² for a coal fired power plant. The transmission lines for the wind turbines would be massive, 12,000 miles just for the array."

 

 

Beam me to Planet Gore !

[Red Boots]

ping for later

[neverdem]

Truth will eventually win out in the area of energy. Solar and Wind together will not produce more that 2-3% of what we need for energy in the next 40 years.

I just want cheap energy & no subsidies.

Europe's green billions - Clean-energy investments target eastern Europe, but it remains to be seen whether they will create as many new jobs as hoped.

Oliver Schäfer, policy director at the Brussels-based European Renewable Energy Council, says that the EU's renewable-energy industry — involving some 350,000 jobs, and generating €40 billion a year in business volume — will benefit substantially from the boost in public funding. Experts have estimated that it will take around €600 billion to help the EU increase the amount of energy it obtains from renewable sources from the current 8.5% to its goal of 20% in 2020.

Protectionism in the Name of Global Warming Regulations David Chu is nuts!

Pope Tells Muslims That Religion Rejects Violence

Will Dems go for broke with Obama?

Some noteworthy articles about politics, foreign or military affairs, IMHO, FReepmail me if you want on or off my list.

[neverdem]

Thanks for your links.

[SunkenCiv]

Thanks neverdem.

[Alamo-Girl]

Thanks for the ping!

[ExSoldier]

When I retire, I think I'll dabble in this STUFF for fun and maybe a small profit. Definitely buying a diesel something .... maybe THIS.

I agree that in terms of the grid, this renewable stuff isn't a drop in ANWR. But on an individual residential basis, I think that solar and wind could get you that cheap energy and maybe even a kickback from the power company when that dial spins in reverse. Such a home system could be immeasurably helped by living in the style of a HOBBIT or maybe a bit more futuristic like maybe the JETSON'S?

[garyhope]

“I’m just waiting for BP to drop their “BP: Beyond Petroleum” nonsense.”

Thank you. You and me both. What a bunch of phoney baloney PR and PC doo doo.