Benefits of Investment in Alternative Energy for Chevron in 2013 Essay

1580 WordsMar 25, 20157 Pages
A proposal to research the benefits of investment in alternative energy for Chevron in 2013 July 15th, 2013 Purpose of the study While most of the current energy and fuel are fossil based, current advances in technology allow cheaper and more efficient ways for energy collection using renewable sources. As a result, market share of the renewable energy is estimated to increase in the future which will negatively affect oil producing businesses. This proposal will assess benefits of alternative energy investment for the fossil extraction companies, such as Chevron. Historical background In the 21st century one of the most discussed questions is the future of the energy supply. The fossil extraction is decreasing while the demand is on the rise with the development of countries such as India, Brazil and China. Many experts agree that the global oil peak has been reached and even discovery of new oil fields is unlikely to cover the demand due to current depletion rates (Sorell et al., 2012). As a result, oil extracting companies such as Chevron should start seeking into new sources of the energy production to satisfy the demand and have a bigger variety of offered products. Canada is likely to start developing alternative energy production to remain an exporter of the energy (Hofman & Li, 2009). With the current trends in food production and use of organic farming, “organic” energy production may become an issue in the future for the oil extraction businesses. Canadian citizens, due to the high quality of life, can afford to choose products based not just on the price but also can motivated by the ethical reasons. As a result, Chevron is likely to benefit in the future from the renewable energy development both financially and ethically by creating a good public image. Scope The study will include an evaluation of the reports on the current state of

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