The supermajors are moving into power generation, tempted by forecasts of a looming surge in demand. Yet there is a twist: the temptation is natural gas generation. Wind and solar—typically described as green or clean power—are turning into a fiasco for Big Oil. Chevron and Exxon both recently said they were planning to venture into the exciting—and quite profitable—field of electricity generation. Speaking at a Reuters event in New York, Chevron’s head of the New Energies division said that it has been in talks for…
