Steve Hargreaves, CNNMoney.com
The company says its not interested in renewables. But when your business relies on a finite resource, is this really the best strategy?
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NEW YORK -- It's the most profitable corporation in the world. It's in a business that juggles geopolitics, economics and ecological health. It provides a finite resource which forms the backbone of our modern economy.

Nearly every American is a customer and anxious about our nation's oil dependence.

Yet for all this, Exxon Mobil (Charts), the company that pocketed over $36 billion in 2005 alone, has said publicly that's it's not interested in investing in renewable energy.

"There are very few that are economical without subsidies," Henry Hubble, vice president for investor relations, said during a recent conference call. "We don't think it makes sense to invest in it at this point."

For Exxon and its shareholders, who make their money from a resource that is running out, how much sense does this make?

According to some analysts, a lot.
(22 Aug 2006)

Exxon: Oil, gas and that's it

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