And finally…Chevron is abandoning an eight-year effort to expand its wind, solar, and geothermal generation, after determining that its profitable renewable energy business wasn’t profitable enough. “While Chevron’s renewable projects were generating good returns by most standards, those returns pale in comparison to some oil and gas projects, which can generate up to 35%,” Wakefield reports. “The move away from renewable energy has confused some analysts, who say the move is shortsighted.”
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