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Shell pulls out of renewable energy

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The Times (18/03/09) reports that Royal Dutch Shell is scrapping all most all of it’s expenditure on wind, solar and hydrogen technology renewable energy and will focus on oil, gas, biofuels and carbon capture. John Sauven from Greenpeace said that Shell had “rejoined the ranks of the dirtiest most regressive corporations in the world”. Shell has invested a total of $1.7 billion on alternative energy in the last five years – but this is dwarfed by it’s annual spend – $32 billion last year and Sauvern adds “after years of proclaiming a committment to clean power they are now pulling out of the technology we need to see scaled up if we are to slash (carbon) emissions”.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]