October 26, 2009 | admin | Comments 0

This week in Geothermal Opinion: Big oil backing geothermal

Marin Katusa, Chief Investment Strategist for Casey’s Energy Report notes a number of new green announcements from the world’s major oil firms, including ExxonMobil, Chevron, Valero, Statoil, Marathon, and Sunoco. And, he says, this time, rather than greenwashing, the companies are beginning to see alternatives as real businesses that might turn real profits. Katusa points to companies like Chevron that are capitalizing on geological expertise to build large geothermal businesses and notes that Statoil has formed StatoilHydro, to focus on advanced geothermal development. And, Katusa adds “The smart money likes geothermal.”

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