Big Oil's Big in Biofuels

Exxon, Shell, and BP are among the biggest investors in biofuels
Illustration by Owen Gildersleeve

BP has invested $7 billion in alternative energy since 2005. ExxonMobil is spending $600 million on a 10-year effort to turn algae into oil. And Royal Dutch Shell has invested billions of dollars in a Brazilian biofuels venture, buying up sugar cane mills, plantations, and refineries to make ethanol. In the U.S., Shell produces small lots of so-called drop-in biofuels—engine-ready products that can replace gasoline—from a pilot plant in Houston that uses sugar beets and crop waste.

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