Big Oil's Wind Pivot
Organizations Are Leveraging Their Offshore Experience To Build Wind Farms
The winds have shifted. As the long-term outlook for fossil fuels sours, major oil and gas industry organizations are turning to energy sources they once shunned as unprofitable. But if they want substantial portfolio diversity, they'll have to pony up major funds, according to a May 2017 Wood Mackenzie report: It would take US$350 billion in wind and solar project investments through 2035 to equal the 12 percent market share they currently hold in the oil and gas market.