Canadian tar sands - According to Shell, more profitable than wind or solar power. But at what cost to the environment?
We've got so used to big oil companies trying to use tiny investments in renewable energy as fig leafs for their core business of pumping oil, that in a way, an oil company just turning round and issuing a big 'screw you' to such pretensions might almost seen slightly refreshing, if only for the novelty value.
Well, in theory. But it's hard to read yesterday's press statement from Shell without your heart sinking. With regards to wind and solar power, Shell said that they do "not expect material amounts of investment in those areas going forward. [Wind and solar] continue to struggle to compete with the other investment opportunities we have in our portfolio."
Even all the slippery corporate-speak in the world can't obscure that message. In more straightforward language, it might read: "forget the environment; we're in it for the cash."