Chevron CEO: Shareholder Returns Are More Important Than Solar, Wind Investment

Shareholder returns are more important for Chevron than investing in wind and solar energy, chief executive Mike Wirth told CNBC in an interview. "These [wind and solar] are technologies that are relatively mature. There is plenty of capital that’s available. The returns in wind and solar are actually being bid down, and we’ve concluded that management in our company can’t create value for shareholders by going into wind and solar." Instead of directly investing in this mature field, then, Chevron would rather return cash to its shareholders, and…

via OilPrice

Categories: Energy