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Monday, April 23, 2007

Oil companies: Can they (and should they) go green?

With many fossil fuel corporations touting their green side, it's noteworthy that Exxon Mobil, the world's largest oil company has little to say on alternative energy. In fact, they are better known for funding global warming deniers than warming up to biofuels or wind turbines.

A CNN Money article notes that this may make a lot of financial sense, especially for a company known for outstripping all its competitors on return on the dollar. Exxon specializes in oil and they're the best in the game.

It may be good from another perspective, as well. I just borrowed Who Killed The Electric Car from my dad and he mentioned that some of the most promising battery technologies developed 20 years ago were bought up by oil companies and essentially buried (I haven't watched the film yet).

Are we better off when fossil fuel companies change their paradigm to invest in alternative energy, or is it wiser to keep their carbon mitts off of any promising technological fixes for a society addicted to oil?

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