Universities and colleges that need to create an impression of environmental change by slicing off ventures with oil & gas organizations may lose a considerable measure of funding.
To advance less utilization of oil, gas and coal, advocates of alternative energy have requested of higher education institutions to quit putting resources into those sectors. However, a new report supported by the Independent Petroleum Association of America (IPAA) found that schools would lose millions in venture returns in the event that they disregarded fossil fuel businesses.
The study by a professor at California Institute of Technology discovered Harvard would lose about $108 million dollars a year, Yale $51 million, and MIT $18-million to name a few. The study said the loss of college interest would matter little to the oil & gas industry and if anything, would damage funding for alternative energy research.
Organizations that are promoting alternative energy called the report irrelevant because it was financed by the oil and gas industry. There are on-line petitions for different colleges to stop using fossil fuels with several gaining about two thousand signatures.