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Shell's sustainability plan emphasizes biofuels, CCS
Source: Copyright 2009, Greenwire
Date: May 7, 2009
Byline: Nathanial Gronewold
Original URL
Royal Dutch Shell PLC plans to focus its "clean energy" efforts on biofuels and developing carbon capture and storage (CCS) technology while pulling back from investments in solar and wind, Shell's CEO said today.
With major offshore wind projects in Europe requiring abundant government support, "we figure it's not logical to expect that you can build a big business based on subsidies," Shell CEO Jeroen van der Veer told a teleconference organized to explain the company's sustainability strategy.
"This is not a good business model for the long term," he said from Germany. "It's hard to see, at least in the way we look at it at Shell, how to make reasonable financial returns."
Shell sees a variety of energy sources emerging in the coming decades, but it still expects renewables to constitute no more than 30 to 40 percent of the world's energy mix by 2050, van der Veer said. Though his company will continue to be primarily an oil and gas company, Shell is hoping to gradually increase the mix of fuels it will supply with a special emphasis on advanced biofuels from sources like algae and possibly a distribution system for batteries to be used in electric cars.
"What we expect at Shell ...
Copyright 2009, Greenwire
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