Shell Is Working on ‘Promising’ Renewable Technology, Voser Says

Tom

While scanning the headlines, we came accross this Bloomberg article about Shell's renewable energy strategy, as voiced by CEO Peter Vosser. The interview they conducted with him at the Shell headoffices in The Hague (Netherlands) features great, promising quotes, such as these:


It would be stupid from the oil and gas industry to say that renewables will not play a major role in the energy system of the next few decades.

We are investing heavily in R&D solutions at the moment, where we are looking at what part of wind and solar technology delivers a greener and cleaner energy form for the future.

We will develop a major technology play whatever it’s going to be over the next few decades. As Shell, we want to be part of the energy mix in the future.

We know Shell will definitely do it's best to stay in the "energy mix (= business) of the future", but one becomes quite sceptical when reading these obvious and seemingly empty answers. It sounds a bit like this:

Classic Shell 05.jpg

This is of course solely based on feelings and a slight aversion of the big oil industry (so don't take us too seriously).

Sure, we know Shell is already loosely involved (look at Solar Frontier, for instance) and will probably claim its piece of the pie when the time is right. We're just very curious to see how they will do it. Hopefully, their "R&D" isn't just talk and they can come up with great solutions. They should have the capital for it.