...plans to double spending on alternative and renewable energy, creating a business unit that may generate about $6 billion a year in revenue within a decade.Joel Makower believes this is the real deal. The Energy Blog thinks BP's carbon sequestration plans are the most promising part of this development. James at Alt-E offers some caveats. My response? "It's a start..." Seriously, though, this is a promising move, but one we'll have to watch closely. If anything, we're definitely seeing (once again) that there's gold in them wind mills and solar cells...
The company will invest $1.8 billion over the next three years on solar, wind, hydrogen, and carbon-sequestration, focusing on new technologies that can replace oil-and-gas-based generation, which accounts for more than 40 percent of man-made greenhouse gas emissions, the company said.
Categories: BP, renewables, business, blogs, energy
