Oil giant takes aim at Calif.'s low-carbon fuels standard

04/18/2013 | Bloomberg

Chevron, which had been a supporter of California's efforts to reduce carbon emissions, has reversed itself and is fighting the state's low-carbon fuels standard as oil companies harden their stances against competitors in the fuel market. While still professing to support renewable energy, Chevron has discreetly canceled most of its biofuel initiatives, according to documents and former executives. "You can make money today making advanced biofuels -- you just won't make as much money as the oil companies would like," said Paul Bryan, a former vice president of biofuels technology who left Chevron in 2010.

View Full Article in:

Bloomberg

Published in Brief: