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Richard Branson to take on the Oil Companies

Discussion in '2006 Archive' started by Ben W, Feb 22, 2006.

  1. Ben W

    Ben W Active Member
    Site Supporter

    Sep 16, 2002
    Likes Received:
    Looks like Richard Branson is investing heavilly into an Ethanol fuel manufacturing company to take on the larger oil companies. Considering what he has done in the music and Airplane industry, I think that some oil companies might be in for a good kicking! [​IMG]

    - Virgin in the Oil Patch
    Richard Branson doesn't claim to be an energy guru. But he's bullish on ethanol. And once upon a time, he didn't know much about airlines or records or phones, either.
    Interview by Nelson D. Schwartz
    January 30, 2006: 11:25 AM EST

    (FORTUNE Magazine) - Why are you so interested in ethanol?

    Our company uses a lot of jet fuel. With oil at $60 a barrel, we've taken on a team of 40 or 50 to explore alternatives from an environmental and economic point of view. Fuel prices will continue to rise dramatically, I think.

    So what are you trying to do?

    With Virgin Fuels, we will be investing in ordinary ethanol plants, in cellulosic-ethanol plants, in other kinds of alternative energy--and there's a possibility of a Virgin hybrid car at some point. We want to be able to say that we're producing more friendly fuels than we're using normal fuels. Hopefully we will build a fuel company that is a major competitor to oil companies.

    Continued - http://snipurl.com/mth1
  2. hillclimber

    hillclimber New Member

    Feb 10, 2005
    Likes Received:
    He'll quickly find he can't compete with oil without hefty subsidies. And subsities is probably where his 40 or 50 man team is exploring.
  3. elijah_lives

    elijah_lives New Member

    Aug 12, 2005
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    Since VIRGY is losing money, why would we expect this newest venture to be profitable?