FROM A SHELL INSIDER
Shell now growing in biofuels? A few years ago Shell was going to corner the solar cell business. That has been closed down. Then Shell was growing the hot air of the windmill business. They also withdrew from a huge UK project. Shell needed reserves so expanded in the tarsand business. The (negative) environmental impact is beyond belief. So that project is scaling down as well for some obscure reason. Of late oilshale is becoming popular again, Shell even recruited a corrupt US official for it so they must be serious. But I predict this will also soon fizzle out. And now strong growth in the biofuel. This will destroy Brazilian rainforests, pressure from environmentalists will be mounting and before too long this will also be scaled down. Billions of capital destruction and no consequences for the people at the top. They resemble exactly like modern day politicians, only good at surviving and reaping personal benefits while it lasts.
Why doesnt Shell learn from Exxon: remain focused on producing oil and gas and do it profitable. Every year a bit better than the year before. Steady and relentless. But I fear the internal know-how has been replaced by woolly language, political correctness and dependence on contractors who will steal Shell blind because if you cannot do it yourself anymore, you also cannot manage it. There has been no coherent policy for future business for years.
About time Voser wraps it up and sells off Shell in large parcels and get it over and done with.
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