Some major oil companies such as Shell and BP that once were touted as leading the way in clean energy investments are now pulling back from those projects to refocus on oil and gas production. Others, such as ExxonMobil and Chevron, have concentrated on oil and gas but announced recent investments in carbon capture projects, as well as in lithium and graphite production for electric vehicle batteries.
National oil companies have also been investing in renewable energy. For example, Saudi Aramco has invested in clean energy while at the same time asserting that it’s unrealistic to phase out oil and gas entirely.
But the larger question is why oil companies would invest in clean energy at all, especially at a time when many federal clean energy incentives are being eliminated and climate science is being dismantled, at least in the United States.
Some answers depend on whom you ask. More traditional petroleum industry followers would urge the companies to keep
