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. It plans to invest more in biofuels which environmental groups blame for driving up food prices and deforestation. Written by Tim Webb and shared with EcoWorldly as part of the Guardian Environment Network.
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 generatÂion of biofuels which do not use food-based crops and are less harmful to the environment.
