Cleantech Startups Partner with Fossil Fuel Giants
Eager to avoid environmental problems, improve their public image, comply with regulations and increase production, oil and natural gas companies have begun investing in next-generation technologies, such as waste water treatment solutions.
With Obama's "all of the above" energy policy, fossil fuels are here to stay, writes Ucilia Wang adding that energy companies are investing in renewables as a defense against sudden policy change.
"The growth of the renewable electricity sector will be tied to natural gas," explains Wang. "Solar and wind generation can't produce power around the clock, and utilities will have to match clean power with 24/7 energy like natural gas."
According to Wang, for now, fossil fuels and renewables exist in symbiosis, with oil and natural gas corporations controlling the vast majority of transportation and electricity generation.