Shell may ditch renewable energy investments as company returns to fossil fuel roots

Amid multiple leadership changes, the massive oil and gas company Shell is looking to dilute its green energy operations as part of its recent shift back towards fossil fuels, according to a report from The Telegraph.

Days after the company's renewable generation head, Thomas Brostrom, was revealed to be leaving the company, The Telegraph reported that Shell was seeking third parties to sell off much of its renewable energy investments.

Brostrom was appointed to lead Shell's renewable energy division after inheriting it from Elisabeth Brinton in February 2022. He "elected to leave Shell to pursue an external opportunity," a spokesperson for the company is reported to have said.

Brinton was in her role for less than two years before stepping away. The current vice president of Shell Energy Australia, Greg Joiner, has reportedly been chosen to succeed Brostrom.

A Shell spokesperson directed The Telegraph to the organization's past remarks that "dilutions" in its green energy stake are indeed part of their business model moving forward.

https://justthenews.com/politics-policy/energy/report-shell-may-ditch-renewable-energy-investments-company-returns-fossil

Quote from: Solar on July 13, 2023, 08:08:11 PMShell may ditch renewable energy investments as company returns to fossil fuel roots

Amid multiple leadership changes, the massive oil and gas company Shell is looking to dilute its green energy operations as part of its recent shift back towards fossil fuels, according to a report from The Telegraph.

Days after the company's renewable generation head, Thomas Brostrom, was revealed to be leaving the company, The Telegraph reported that Shell was seeking third parties to sell off much of its renewable energy investments.

Brostrom was appointed to lead Shell's renewable energy division after inheriting it from Elisabeth Brinton in February 2022. He "elected to leave Shell to pursue an external opportunity," a spokesperson for the company is reported to have said.

Brinton was in her role for less than two years before stepping away. The current vice president of Shell Energy Australia, Greg Joiner, has reportedly been chosen to succeed Brostrom.

A Shell spokesperson directed The Telegraph to the organization's past remarks that "dilutions" in its green energy stake are indeed part of their business model moving forward.

https://justthenews.com/politics-policy/energy/report-shell-may-ditch-renewable-energy-investments-company-returns-fossil

Could we be seeing that reality is settling in with corporations? Ford has announced a cutback in EV production. We all knew this charade of green energy would finally be exposed.

Quote from: supsalemgr on July 14, 2023, 04:25:22 AMCould we be seeing that reality is settling in with corporations? Ford has announced a cutback in EV production. We all knew this charade of green energy would finally be exposed.

Amazing, isn't it?
Yeah, it's the woke version of financials. They knew it was a bad idea, but were promised so much money and investment, they took the risk.
Budweiser, Target and others now see the blowback from their decisions, to, either do what is best for business vs destroying Western culture, came with severe consequences.

I'd love to see the thinktanks that came to the conclusion, that people would stand back and watch as everything they believe is Right,  just get destroyed without a fight?

In the late 80s Shell had purchased ARCO's Solar cell manufacturing division in a time when the solar panel was seeing a glut from Govt's sale of Carter's failed Carrizo Solar power plant.
I knew Shell would make an excellent product, they literally set the bar for the industry, but to do so, they needed a huge influx of investment, so the German Govt was there to take on the task.

Shell sold off to another company, who sold off to another company and so on.
None of these ventures were profitable, unless you consider how they were able to steal from the taxpayers via "Govt Subsidy".

None of this "Green Shit" is profitable on its own, it all requires subsidies.
This is some seriously delusional thinking, this is how socialism destroys economies, at which point when all has collapsed, the communists come in claiming they are the only ones who can save the nation from itself.

This is not Capitalism, this is Govt Crony Capitalism, designed to kill free Mkts.
But I digress, I'm certain everyone sees what is happening.