Australia has the fastest growing liquified natural gas (LNG) industry in the world and is on track to eclipse Qatar as the world’s largest producer by the end of the decade. It is, therefore, ideally positioned to fill much of the energy void in Japan if that country reduces its use of nuclear energy in the aftermath of the crisis at the Fukushima Daiichi nuclear plant.
Less than seven months after the Deepwater Horizon oil rig exploded and sank in the Gulf of Mexico, spewing millions of gallons of oil into the Gulf, oil companies in the United States remain reluctant to enact reforms that could help prevent another environmental disaster.
To anyone familiar with how modern-day politics works, it should come as no surprise to learn that big business spent big bucks to defeat the climate bills that became stalled in the U.S. Congress this past summer.
Fossil-fuel extractors don't usually bring to mind energy alternatives, but in the past few years Royal Dutch Shell (NYSE: RDS.A), Europe's largest petroleum producer, has invested £1 billion (about $1.65 billion) in alternative energy development.