Hybrid Cars - Alternative Energy



Hybrid cars have increased in popularity as of late.Nows the time to support alternative energy solutions and technologies.

Hybrid Cars - Alternative Energy

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Thursday, March 15, 2007

ConocoPhillips eyes alternative energy

By LAUREN VILLAGRAN
NEW YORK

ConocoPhillips said Wednesday it plans to boost spending on alternative energy research this year by as much as 60 percent -- a move analysts say will help the large integrated oil company catch up with rivals that already have a presence in the burgeoning sector.

At an investor meeting in New York, ConocoPhillips said it would increase research and development spending on biofuels and other alternative energies to $150 million, or about 38 percent of its total technology budget of $400 million.

Chief Executive Jim Mulva said in an interview after the meeting that the company expects to make announcements about new projects involving ethanol, biodiesel and other alternative energies this year.

"Some of the announcements you've seen from competitors -- we've been working pretty hard to do a similar sort of thing in many of the ways that they are doing, but we want to do things a little bit differently," he said, stressing the company's commitment to developing new technologies.

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