11/01/2023 (Agence Europe) – The NGO Transport & Environment (T&E) published a study on Wednesday 11 January in which it reports that the largest oil companies, such as Shell, Total, BP or ENI, invest eight times more money in biofuels than in hydrogen. “Oil producers present hydrogen as their big bet for the future, but in reality their investment in green hydrogen is paltry. Instead, they are focusing their new refining capacity on biofuels that cannot sustainably meet the world’s transport needs”, commented T&E’s ‘Electricity and Energy’ manager, Geert Decock. According to T&E’s analysis, 75% of the €39 billion investment in the refining sector will be spent on increasing biofuel production. Two to three billion euros will be invested in new advanced biofuel plants, doubling production capacity to 10 million tons by 2030. See the study: https://aeur.eu/f/4ul (TM)