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Shell Dumps Wind, Solar and Hydro Power in Favor of Biofuels

A Shell employee conducts a safety walk-through of a tanker truck at a gas station in Kuala Lumpur, 2005. (AFP/Tengku Bahar)

Shell will no longer invest in renewable technologies such as wind, solar and hydro power because they are not economic, the Anglo-Dutch oil company said today. It plans to invest more in biofuels which environmental groups blame for driving up food prices and deforestation.

Executives at its annual strategy presentation said Shell, already the world's largest buyer and blender of crop-based biofuels, would also invest an unspecified amount in developing a new generat­ion of biofuels which do not use food-based crops and are less harmful to the environment.

Posted in biofuels, Energy, renewable energy