From USA Today:
HOUSTON — George Alcorn is a third-generation Texas oilman. His grandfather drilled for oil in the 1930s, then his father and his uncles followed suit.
When Alcorn, 51, looks into the future of his business, though, he doesn’t see black oil gushing from a well — he sees steam. Alcorn recently revamped his business strategy from traditional oil exploration to using abandoned wells and drilling technology to generate geothermal energy as a way to power cities.
The rough-and-tumble image of the Texas oilman may be turning “green.” An increasing number of Texas oilmen and companies are following Alcorn’s lead and swapping oil and gas production for cleaner, renewable-energy strategies.
“We’re trying to catch the new wave, not get swamped by it,” Alcorn says. “You’re going to see more oil companies doing this. There’s a great opportunity to make some money here.”
With mounting national interest in renewable energy, oil companies are starting to think in renewable terms. President Obama’s $800 billion economic stimulus, which contains incentives for renewable projects, has helped push the swing.
Those horrible terrible nasty oil companies. What are they thinking? Trying to change their ways? Oh, and by the by, your tax payer dollars were not helping them before, but they are now. Thanks America for voting “commie”.
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