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Just remember what I said about how oil companies do not sell oil, but finished fuel products,Even Shell and GE have to accept the decline in fossil fuels and the great potential in renewable energy.
"Royal Dutch Shell is looking to slash up to 40 per cent off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters.
Shell's new cost-cutting review, known internally as Project Reshape and expected to be completed this year, will affect its three main divisions and any savings will come on top of a $4 billion US target set in the wake of the COVID-19 crisis.
Reducing costs is vital for Shell's plans to move into the power sector and renewables where margins are relatively low. Competition is also likely to intensify with utilities and rival oil firms including BP and Total all battling for market share as economies around the world go green."
GE plans big shift away from coal-fired power sector
The business has extensive experience in the coal industry.www.cnbc.com
There also Airbus is planing for a transition towards hydrogen and other alternative fuels for airplanes.
Airbus unveils 'first zero-emission planes' plan - BBC News
The aerospace giant said its hydrogen-fuelled passenger planes could be in service by 2035.www-bbc-com.cdn.ampproject.org
and that how at some point the greater profits will be with making their own carbon neutral feedstock
from electricity, water and atmospheric CO2.
What you cite, is the type of movements expected, Shell is not going into batteries,
when they say they are entering the renewable market!