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Oil and Gas giants go renewable

Competition in the renewable energy sector is about to heat up, says Selina Williams at the Wall Street Journal.  This is because major global oil and gas companies such as Royal Dutch Shell and Total have begun to invest in the sector:

“While the investments of Europe’s biggest energy companies in renewable energy represent only a tiny fraction of investments in their traditional oil and gas business, their interest in the sector marks their growing efforts to deal with investor concerns about climate change and growing global political commitment in the past two years to reduce carbon emissions.”

The influx of capital will provide a considerable boost to the development of European renewables at a time when Europe would otherwise be increasingly dependent upon imported oil and gas.

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