Will Big Oil’s Energy Efficiency Initiatives Pay Off?Daily Finance, December 31, 2013
It goes without saying that members of Big Oil including Chevron are the world’s premier producers of oil and natural gas, the two resources that will remain the primary sources of energy for years to come. At the same time, many oil companies readily admit the importance of energy efficiency, particularly when it comes to serving the energy needs of rapidly developing economies. Across the globe, emerging economies are devouring energy at an alarming rate, which compels certain majors like Chevron and others to take efficiency seriously.
Big Oil’s pragmatic approaches to renewable energy and energy efficiency—meaning, focusing on pursuing technologies that leverage current strengths—might not pay off in the short run, but are critical to expansion in the emerging markets.