Green energy enthusiasts are also betting on fossil fuels (NYT article 3/16)

Silicon valley investors are looking to green technologies for the next big thing to replace our declining world oil reserves. These businessmen and women are out to get while the getting’s good. They do not pretend that the environment is their main motivation, “I want to make the kind of green my limited partners get to spend…” says one green-enthusiast at Mohr Davidow Investors. Regardless of their motivations it is great that green technologies are getting the attention they deserve and need to succeed and become competitive.

Simultaneously, however, they are investing millions in browntech – looking to improve technologies for finding oil and gas. The problem(s) here? Well it seems that some of these investors are under the illusion that such developments will actually provide a solution or help our environment

“…speaking generally, Mr. Lacob said that companies that reduce waste associated with traditional drilling are making a contribution. ‘If we can improve the efficiencies of the oil and gas exploration, in some ways that’s a green message as well,’ he said.”