Written by Miranda Marquit
Does Big Oil see which way the wind is blowing (and where the sun is shining)?
Photo: (nz)dave, Creative Commons, Flickr
While still just a drop in the bucket comparatively speaking, the fact remains that many Big Oil companies have started investing in alternative energy (hat tip: To a Greener Tomorrow). And while a great deal more of an investment is needed to truly make a shift away from fossil fuels, we're at least off to something of a start.
Perhaps it's time to see where Big Oil is putting its money. Then we can get an idea of where our own money might be best served in terms of alternative energy investing:
- Chevron (CVX): $2.5 billion (2007-2009) on various projects, including algae biofuel.
- ConocoPhillips (COP): Claims to be searching for wind and solar power investments.
- Royal Dutch Shell (RDS-B): Focusing on thin-film solar. Joint ventures opening solar plants in Japan and Germany.
- BP (BP): Plans to invest $8 billion over a decade on various initiatives from solar to wind to biofuel.
- ExxonMobile (XOM): Is investing in the hybrid car market.
And with the stock market where it's at right now, it might be a good time to look at companies that are fundamentally promising, and buy up some of the stock. Of course, the problem is trying to figure out which of the fledgling alternative energy companies are most likely to take off and thrive...
Disclosure: Right now, I do not invest in Big Oil stock. I do have some alternative energy investments, mostly as part of funds.