Myth: U.S. oil companies have refused to invest in alternative energy and other clean technologies.
Myth: U.S. oil companies have refused to invest in alternative energy and other clean technologies.
Truth: The U.S. oil and natural gas industry invested over $121 billion between 2000 and 2007 in emerging energy technologies, including $12 billion in non-hydrocarbons and $42 billion in greenhouse gas emission mitigation technologies. This investment represents 65% of the estimated total of $188 billion spent by U.S. based companies and the Federal government on emerging energy technologies.
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