Oil Giants Wade Into Renewables Pool
It’s not a free–for–all, yet. But more oil producers and refiners – even the ones, who have dragged their feet for years – are testing the renewable energy waters.
...The acquisition could bode well for Valero, a company known for buying cheap assets and then turning them into profitable businesses. The company has even hinted at expanding the plants to include cellulosic technology if it becomes available, which probably means once it is economically viable. Valero has covered all of its bases with its investment last month into cellulosic start–up ZeaChem, which is still on track to begin construction on its biorefinery this year.
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