Monday, Wood Mackenzie, a leading oil, gas, mining and renewable energy analysis firm, issued a report claiming “major oil and gas producers will put more of their capital into wind and solar developments as returns from renewables are poised to exceed some hydrocarbon projects.”

In short, a global consulting firm says major energy companies are going to put lots of money into “green” energy while scaling back on fossil fuels because there is now as much or more money to be made in renewables.

Every time similar news comes out – and it comes out about once a month these days – my Inbox is jammed with told-ya-so messages from “green” activists saying things like, “See, see, even corporate executives accept that climate change is real. They’re ready to do something about it. Why don’t you stop defending carbon.” (Expletives deleted.)

It happened after U.S. President Donald Trump withdrew from the Paris accord and the next day an American headline trumpeted “Corporate America scolds Trump for dumping climate agreement.”

It happened last month when London’s Financial Times printed a feature entitled “The Big Green Bang: how renewable energy became unstoppable.” And in March when financial news service Bloomberg carried a headline proclaiming “Big Oil replaces rigs with wind turbines.”

What’s missing in all of these stories is not the what, but the why?

Why, for instance, would executives from four oil and oilsands companies have stood at the podium in November 2015 when Alberta Premier Rachel Notley announced her carbon tax and Climate Leadership Plan?

After all, aren’t corporate execs all about maximizing profits (i.e. greed)? Aren’t they all climate change “deniers” who are against the “green” economy? If even they are worried enough about the future of our planet to go “green,” shouldn’t we all do the same?

Frankly, no.

First of all, there are lots of “wets” – intellectual liberals – among the corporate elites. Indeed, the wealthiest 10% in Western countries are now more likely to vote and donate to the left than to the right.

A subconscious feeling of guilt over being prosperous, coupled with peer pressure, have created a need among today’s corporate class to be seen to be socially aware.

But the biggest single reason for this new “green” enlightenment among major energy companies? Subsidies.

There are literally hundreds of billions of dollars in taxpayers’ and electricity consumers’ dollars on offer from governments. And drilling for subsidies seems certain to produce a steadier income stream than drilling for hydrocarbons.

Just three reasonably minor examples from Canada illustrate the problem.

Current “green” energy plans by Ontario’s Liberal government are expected to add $170 billion to residential and industrial power bills by 2032. That’s government forcing consumers to subsidize “green” energy companies.

In Alberta, a carbon tax to subsidize renewable energy and energy-efficiency conversions in new and existing buildings will cost the average family $1,000 a year by 2018 and raise around $3 billion a year for the provincial NDP to toss around at all manner of save-the-planet schemes.

And calculations by Calgary author and policy analyst Mark Milke show that between 2000 and 2016, 80% of the billions in industrial subsidies given out by Natural Resources Canada went to renewable energy companies.

Around the world it’s the same or worse. Governments are pouring slop pails full of taxpayer dollars at wind, solar, biomass and other alternate energies. It’s almost certain none of these energies would be profitable without massive subsidies.

With oil stubbornly below $50US/bbl., getting “green” politicians to squeeze taxpayers and consumers for huge subsidies and massive electricity rate increases is a great way for oil executives to make up sagging profits.

It’s Big “Green” and Big Oil versus taxpayers and consumers.