Growth Seen in Renewable Energy by Oil Executives

According to a report here in Washington, survey done basing oil and gas company executives, many are seeing the future cars running on renewable energy.Renewable energy sources include air, water, solar energy and wood. Their collection cost is more than the fossil fuel, which has an indirect cost. Also, the fossil fuel has an issue of global warming.

A recent survey has been conducted in America which included 100 chief financial officers. Out of these, 9 out of 10 speculated that renewable energy will hold a large number of shares in the coming 5 years.  1 to 5 of them thought that renewable energy shares will be more than double.

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According to 64 percent of the corporate financial officers the market share of renewable energy will be in between 8 to 10 percent. Share range from 13 to 16 percent has also been speculated by 22 percent executives. As per the records of Energy Information Administration, renewable energy produces up to 7 percent of the total of America’s energy.

It was also found in a telephone survey was done for a leading account and consulting firm, BDO Seidman LLP, concluded that 2 – 3rd of the executives supported the carbon dioxide emission control because of global warming. A few supported state regulations.

Newly elected president Barack Obama has taken economy revival as one of his key priorities (and energy development is an important part of it). The mentioned survey was conducted prior to elections, so there is a chance that executives’ expectations may have been understated.

Growth Seen in Renewable Energy by Oil Executives
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