The Valero refinery in Port Arthur, Texas
Michael S. Williamson | The Washington Publish | Getty Pictures
Speak of the power transition evokes photos of wind generators gently spinning within the breeze, however there’s additionally a giant alternative for conventional oil and gasoline corporations amid the push for renewables.
As funding throughout the house heats up, Wells Fargo compiled an inventory of “conventional” power corporations which can be devoting extra sources in direction of carbon-reducing applied sciences, together with renewable fuels, carbon seize utilization and storage, R&D efforts, know-how seed funds and direct investments.
These corporations do, in fact, proceed to generate the overwhelming majority of their income from fossil-fuel based mostly operations, however some consider the corporations’ massive analysis departments and present infrastructure provides them a head begin in areas like carbon seize.
Wells Fargo’s listing of finest concepts contains BP, which it stated “clearly leads the power transition with the most important technique shift.”