Jinjoo Lee of The Wall Street Journal reports on the oil and gas industry’s investments in geothermal energy.
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- After divesting from its geothermal operations in 2017, Chevron is reinvesting in the power source with pilot projects in California, Japan, and Indonesia.
- Several former oil and gas executives are applying their drilling knowhow to geothermal energy, launching more startups in the past two years than the past decade combined.
- These startups have predominantly been located in Texas due to the state’s favorable geology and market structure.
- Private sector innovation is accelerating clean energy progress.
“Small geothermal investments are an uncomplicated green boost for the oil-and-gas industry today. A true breakthrough could bring the fossil-fuel industry’s deeper existential questions to the surface.”
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The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.