Shell quits London wind power scheme

international | environment | other press Friday May 02, 2008 16:18 by Miriam

Are short term profits determining the decision?

Channel 4 News report today that Shell are pulling out of a wind power schme that would have produced enough energy to power a quarter of London homes.

"Shell quits wind power scheme
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First off as things stand, where now for the government's green agenda? The giant oil company Shell has pulled out a flagship British scheme, destined to become the world's biggest offshore wind farm.

The multinational said it was selling its interest in 'The London Array' project, with 341 turbines in the Thames Estuary, capable of generating enough energy to power a quarter of London's homes?

Shell’s decision to get out of the project has raised doubts about whether it can proceed as planned. Why has Shell jumped ship? Is it simply a case of Shell switching their investment out of wind power because old-fashioned and dirtier oil is more lucrative?

Well of course it is in the short -term, but wasn't it the oil giants who were claiming they were trying to escape just that short-termism? And all this in the week when the likes of Shell are posting colossal profit, no wonder the Environment Secretary Hilary Benn called it "very disappointing"."

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