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Author Topic: BP Faces “Existential Crisis” After Ruinous Attempt to Go Green  (Read 461 times)

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Offline rangerrebew

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BP Faces “Existential Crisis” After Ruinous Attempt to Go Green
« on: February 25, 2025, 06:56:38 am »

BP Faces “Existential Crisis” After Ruinous Attempt to Go Green
by Richard Eldred 23 February 2025 7:00 PM


BP’s green pivot has backfired spectacularly, hammering profits and leaving the company vulnerable to a hedge fund siege, writes Jonathan Leake in the Telegraph. Here’s an excerpt:

Addressing journalists and executives at the Royal Lancaster Hotel overlooking Hyde Park, Bernard Looney, BP’s new Chief Executive, urged them to “reimagine” his company as a champion of green power.

By 2030, BP would have cut oil and gas production by 40%, he pledged, with the lost fossil fuel income replaced by wind farms, solar parks and biofuels made from plants.

He said: “BP has been an international oil company for over a century… Now we are pivoting to become an integrated energy company.

 https://dailysceptic.org/2025/02/23/bp-faces-existential-crisis-after-ruinous-attempt-to-go-green/
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Offline IsailedawayfromFR

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Re: BP Faces “Existential Crisis” After Ruinous Attempt to Go Green
« Reply #1 on: February 25, 2025, 08:49:26 am »
Shell was headed that way but backed off a couple of years ago.
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Offline Fishrrman

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Re: BP Faces “Existential Crisis” After Ruinous Attempt to Go Green
« Reply #2 on: February 25, 2025, 05:52:10 pm »
"Bernard Looney, BP’s new Chief Executive, urged them to “reimagine” his company as a champion of green power."

With someone named "Looney" as your leader, what can go ʍɹouɓ...?
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Online catfish1957

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Re: BP Faces “Existential Crisis” After Ruinous Attempt to Go Green
« Reply #3 on: February 25, 2025, 05:56:19 pm »
Quote from: IsailedawayfromFR on February 25, 2025, 08:49:26 am
Shell was headed that way but backed off a couple of years ago.

Thankfully our big players CVX, and XOM took a more subdued "wait and see" approach.
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Online DB

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Re: BP Faces “Existential Crisis” After Ruinous Attempt to Go Green
« Reply #4 on: February 25, 2025, 06:00:34 pm »
Reality always wins in the end...
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Online Smokin Joe

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Re: BP Faces “Existential Crisis” After Ruinous Attempt to Go Green
« Reply #5 on: February 25, 2025, 06:13:22 pm »
When you forget your last name, what's next?
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