Jinjoo Lee of The Wall Street Journal writes about the different oil companies that are investing in clean power.
- As market demand for clean energy grows, oil companies are pivoting to low-carbon technologies.
- These companies are using their drilling and geological expertise to tap into emerging geothermal and carbon capture technologies.
- Baker Hughes estimates that orders in its new energy segment could reach $7 billion this year.
- To advance clean energy, the world will need to rely on free markets and private sector expertise.
“Baker Hughes, which is more equipment-focused than its peers, therefore seems to have a head start: Orders in its new energy business were substantial enough to be noted on earnings calls. It booked more than $400 million of orders in the segment last year and said it is on track to exceed that amount this year.”
Read the full article here.
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