“Chevron, BP, and Devon Energy are part of a group of fossil-fuel companies investing hundreds of millions of dollars in modern geothermal startups and projects. Many of these companies are using the same technology employed by frackers, but instead of searching for oil and gas, they are looking for underground heat.
The new geothermal industry is the result of a surprising confluence of interests among the oil-and-gas, technology and green power industries. The heat that the drillers find underground can be used to generate a steady, round-the-clock supply of carbon-free electricity.”
From Wall Street Journal.