Shell Drops Wind, Solar and Hydro; Focuses on Biofuels and CCS

Shell will no longer invest in renewable technologies like wind, solar and hydro power because they aren't profitable, the company announced last week. They will instead investment more in biofuels and pursue carbon capture and sequestration research. "If there aren't investment opportunities which compete with other projects we won't put money into it," said Linda Cook, Shell's executive director of gas and power. "We are businessmen and women. If there were renewables [which made money] we would put money into it." Shell is already the largest buyer and blender of crop-based biofuels. Read more at Guardian