The major oil companies have been endlessly touted their committment to renewable energy sources in a carbon-restrained world, but is their resolve borne out in their investments? Not quite. According to the Dow Jones (certainly no Mother Jones):
How are oil companies using those windfall profits? They're investing in their core business - oil. That's not surprising, but it does indicate two things:"As the companies continue to garner plenty of cash from high oil prices, which reached record highs of more than $123 a barrel this week on the New York Mercantile Exchange, they continue to steer their funds to share repurchases
and avoid any major jump into unconventional fuels."
1. Greenwashing is big business for some businesses, and
2. It's going to take smaller companies truly dedicated to clean energy to significantly alter the landscape of energy generation in 21st century America.