Blog Post from American Petroleum Institute
Who Invests in Renewables?
June 16, 2009
Written by: Jane VanRyan
Answer: U.S. oil and natural gas companies.
According to a new study, U.S.-based oil and natural gas company investments in renewable energy
accounted for nearly one-fourth of the money invested in renewables by all U.S.-based private industry and the federal government over the past nine years. More than $6.7 billion supported development of energy sources such as wind, biofuels and solar power.
The study also found that nearly half of all investments made to reduce greenhouse gas (GHG) emissions were made by U.S.-based oil and natural gas companies. In fact, between 2000 and 2008, they spent $58.4 billion to reduce GHG emissions, more than either the federal government or all other U. S.-based private industries combined. The study--"Key Investments in Greenhouse Gas Mitigation Technologies by Energy Firms, Other Industry and the Federal Government"--was produced by T2 and Associated and the Center for Energy Economics at the University of Texas and based on data from more than 420 company annual reports, federal budget documents and other public sources.
Read more about oil and natural gas company investments in renewable energy.
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