Should we have a law in place where the oil companies have to reinvest in renewable energy¬ buy back stocks?
Thursday, August 20th, 2009 at
9:49 pm
The oil companies take the money they make and buy back there own stocks so the value of the stocks go higher.. Shouldn't they reinvest the money in renewable energy
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Tagged with: money • oil companies • Renewable Energy • stocks
Filed under: Renewable Energy
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Oil companies would not willingly work toward research renewable energy, because once a low cost solutions are made available they would be out of work, even we enact a law require them do it, they would find ways to work around it, remember the low efficiency wind power turbines? that was a total waste of money.
It’ll be more efficient to tax oil companies heavily, drive the price of oil up. Once oil is very expansive (like now), investors will begin looking into developing renewable energy. Because the investors are putting their OWN money in, the projects will be better monitored, more efficient. Also, when oil price is high, consumers are more willing to switch, demand for renewable energy will be up, driving price up, supply will naturally move up.
alas the world will be saved by capitalism