Is there a way to make oil companies help fund renewable energy?



  1. 0 Votes

    Yes, there are ways to make them, they do exist. All strategies would be enacted by government agencies. One idea include pollution tax, ie calculating the amount of carbon put into the air by said corporation and taxing them proportionally. The skys the limit on what type of regulation you could imagine

    Whether or not oil companies will abide by these regulations, and whether or not nations that rely on fossil fuels will have the courage and foresight to create laws that shovel funds away from petro-business and into green business, this is an entirely different issue. Part of the problem is that these companies are multi national. If they don’t like the environmental laws in one country, they go someplace else. For what it’s worth, putting environmental restrictions on businesses is at a stand still in the US, and has been for a long time. The poor economy and strong conservative presence virtually assures no progress will be made in this area any time soon. 

    But you have the right idea. Placing burden on companies that pollutethe environment and run counter to environmental initiatives is a great way to go. Just look at Germany. They have the best recycling program in the world, and the government barely lifts a finger. They require that all manufacturers recycle their own products once the useful life of the product has elapsed. This has all sorts of advantages, which I won’t go into now, but the point is this: it is possible to have a strong economy while holding corporations accountable and keeping environmental policies at the center of political culture. Germany is currently the third largest economy. Not bad.

  2. 0 Votes

    Yes. There are plenty of big oil companies that invest in small renewable energy source. At the beginning of total SA the world’s fifth largest international oil company launched an offer to buy 60% of a California-based solar company SunPower. It would be $1.4 billion and on top of that, the solar company with $1 billion in credit will survive for the next 5 years. Shell oil company will work with $12 billion surgarcane-to-biofuel project, as well as Exxon’s $600 million partnership with synthetic genomics which alters biofuels. 

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