ExxonMobil Says No to Solar & Wind Investment

exxon.jpgAlthough their shareholders are making a solid effort to address climate change and alternative energy, ExxonMobil officials are dead-set against dabbling in solar and wind power. The reason – Exxon claims to be against investing in areas that require government subsidy to profit. This hasn’t stopped BP from making renewables a very visable (if tiny) part of their strategy – plus oil extraction is (arguably) also heavily subsidised if security spending is taken into consideration.
Is Exxon just being honest about their intentions while the likes of BP pull off saavy marketing moves? Perhaps, but many would argue that a superficial effort is better than no effort at all. (via Daily Grist)

Nick Aster is a new media architect and the founder of TriplePundit.com

TriplePundit.com has grown to become one of the web's leading sources of news and ideas on how business can be used to make the world a better place.

Prior to TriplePundit Nick worked for Mother Jones magazine, successfully re-launching the magazine's online presence. He worked for TreeHugger.com, managing the technical side of the publication for 3 years and has also been an active consultant for individuals and companies entering the world of micro-publishing. He earned his stripes working for Gawker Media and Moreover Technologies in the early days of blogging.

Nick holds an MBA in sustainable management from the Presidio School of Management and graduated with a BA in History from Washington University in St. Louis.