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Oil majors need to diversify and invest in alternative energy

Oil majors need to diversify and invest in alternative energy

Interesting comments from former Shell boss Jeroen van der Veer about the need for the oil majors to diversify and invest in alternative energy.

His point that companies like Shell are energy companies, not oil and gas energy companies, is a good one. BP made significant investments in solar energy as part of their Beyond Petroleum project in the mid eighties and nineties but closed the business in 2011, displaying the biggest lack of corporate foresight since BT sold off Cellnet/O2 in 2002.

City A.M. has the story here..