Many of the largest Oil Companies on Earth are busy re-investing their money in alternative energies and alternative fuels. But if Oil is such a lucrative business, why would they be doing this? Why not re-invest in oil pipelines, refineries and exploration? Well there are a number of reasons why. For instance there are many new refineries slated already which will all come online within five years, then there might be over refining capacity lowering profit margins on refining capabilities. Another reason is that in the United States you can come up with a great project but never get it approved due to the hardships of over regulation and Environmental Impact Reports. Another reason is that Global Warming may limit the future use of oil over the next couple of decades and these oil companies want to be in on the new paradigm shift and hedge their bets. Whatever the real reason you have to admire one company over all for their excellent PR and advertisement and that company is British Petroleum and their new slogan; Beyond Petroleum which describes their program to invest millions in renewable energy, alternative fuels and alternative energy. I say good for them and the other major oil companies who are also putting at least some of their monies where their mouth is. Consider all this in 2006. |
