Last weekend I was having a very pleasant conversation with my neighbors when the subject turned to the oil spill and the need for alternative energy. One neighbor said, "The oil companies don't want us to use alternative energy so they've bought all of the best technologies."
You've probably heard that old saw. It's one of several "urban myths" that have been circulating throughout America for several years. It's not true.
The oil and natural gas industry invests in emerging energy technologies for the purpose of bringing them to the marketplace. For example, the industry's investments in biofuels alone total more than $13 billion. Oil companies today are making renewable diesel from tallow; creating ethanol from sugarcane, waste products and algae; and geo-engineering special microbes to... more »
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