We Will Still Need Fossil Fuels In 2050–AEP’s U-Turn
FEBRUARY 16, 2023
tags: aep
By Paul Homewood
The climate Left has picked the wrong target in vilifying BP. It is a futile mistake to tar every oil and gas company with the same brush.
Bernard Looney’s BP is doing its part to decarbonise the world in a way that does not trigger energy mayhem in the process, and does not provoke a paralysing political backlash. So are all of the European “majors” to varying degrees.
Contrary to media headlines and feverish censure from Greenpeace, Friends of the Earth, and the Liberal Democrats – who ought to know better – BP is not retreating from renewables or clean energy. The company is tapping its booming oil and gas profits to make green hydrogen a commercial reality in this country instead of a pious dream.
In parallel, it is investing an extra £1bn annually in oil and gas, concentrated on “short-cycle fast-payback” wells to exploit soaring prices and meet the looming supply crunch in the mid-2020s.
https://notalotofpeopleknowthat.wordpress.com/2023/02/16/we-will-still-need-fossil-fuels-in-2050-aeps-u-turn/
