Buying a Green Image or Investing in a Green Future?
Oil and Gas
This paper examines the business motives of integrated oil and gas firms with regard to investing in renewable energy research and development. In doing so, five distinct methodologies are employed in examining five distinct facets of the topic. Precedent research is reviewed to determine if consumers are drawn to renewables. Oil industry advertisements are reviewed to ascertain whether renewables are a specific focus. Industry research is used to determine the expected points at which various technologies would reach commercial viability. Annual reports of integrated oil and gas companies are searched for mentions of renewables and related technologies. Finally, patent data is analyzed for patent quality specifically as it relates to renewable energy patents. This paper finds that there is evidence to support the conclusion that integrated oil and gas companies invest in renewable energy on the basis of developing their offerings and maintaining their viability in an increasingly green future.