Why doesn't Conoco see a future in renewables?
. Other large players are getting into offshore wind, solar, geothermal, hydrogen, why not Conoco?
What comes after oil and gas?
8 replies (most recent on top)
Not sure what type of company they are, but for sure, unprofitable applies. Renewable energy is very tough to turn a profit. If these guys couldn't make one when oil was double what it is now, no way they ever turn one with renewable energy.
Because COP is not an electric power company - independent or utility. It's a completely different business than fuels for cars and petrochemical feedstocks. No way COP could compete in the very competitive power sector. NONE of them have corporate jets and ridiculous exec pay packages.
Wonder if the OP will buy my buddies used Prius with bad batteries? I am sure he will sell it cheap! He calls it COP!
Are you kidding me! They can't even find oil and gas and that's their business. Buddy you might get promoted to the ELT for your insight.
Don't be silly. The ELT doesn't see any future, let alone a future in renewables. No point in investing in overlapping technology and research when the likely buyer will already have that covered.
You're an idiot. But probably would get a promotion in ConocoPhillips if you share your idea with the right corporate tool
Renewables are uneconomic and will become even more as climate change, changes.
Talk about losing money, go solar
The management cannot properly invest in our traditional businesses, not to mention renewables.