MYTH: A common misperception is that energy companies have no intention of investing in clean energy, so government programs must do the heavy lifting
FACT: U.S.- based oil and gas companies have spent over $121 billion from 2000 through 2007 on new energy technologies in the North American market, says the Energy Information Administration.
$16 billion went for advanced-technology vehicles, including electric cars
In all, oil and gas firms ponied up almost 70% of all funds U.S. companies invested in new energy sources and 35% of all the money spent developing and researching electric vehicles.
Clean Energy Myth #2
MYTH: Renewables will replace conventional energy sources in the next 20 years
FACT: Despite years of government subsidies, state-level mandates, and the green movement’s love of renewable technology; Coal, oil, and natural gas will STILL provide 79% of the energy in the U.S. in 2030, according to the Energy Information Administration.
That would be a relatively small change from the 84% of U.S. energy these sources were responsible for in 2007
So as energy use climbs 0.4% annually over the next 20 years, renewable contribution of overall energy use will climb 0.2% annually