Opinion: Oil companies should switch to clean energy while they’re still rich, says one who did

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new jersey solar power, wind energy

JEFF MCMAHON / FORBES – Oil and gas companies should begin the transition to clean energy now, while their coffers are still fat with fossil-fuel revenues, said the North American head of Ørsted, the Danish oil company that has switched most energy production to offshore wind.

Ørsted recognized a decade ago that its North Sea platforms could not compete with American fracking wells in a market increasingly squeezed as a world transitions to cleaner sources, said Thomas Brostrøm, president of Ørsted North America. In the United States, Ørsted is developing wind projects offshore of Massachusetts, New Jersey and Virginia …

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