[News] BP shuns renewables in return to oil and gas

[Is it PotG?]

https://www.bbc.co.uk/news/articles/c3374ekd11po

https://news.sky.com/story/bp-to-in...tment-despite-pace-of-global-warming-13317254

Gotta consider the shareholders.

 

[BNthree]

https://www.bbc.co.uk/news/articles/c3374ekd11po

https://news.sky.com/story/bp-to-in...tment-despite-pace-of-global-warming-13317254

Gotta consider the shareholders.

The company literally exists for one reason which is to make profit. If what they're doing is legal then they'll do it and they'll probably consider doing it if wasn't but could get away with it (I'm joking, don't sue me!).

Only way to steer them in a different direction is legislation.

 

[beorhthelm]

BBC getting click-baity again. "shuns renewables" is hardly correct, it's a reduction of investment in this area. share price has under-performed others that stuck focus on oil and gas.

 

[GJN1]

The company literally exists for one reason which is to make profit. If what they're doing is legal then they'll do it and they'll probably consider doing it if wasn't but could get away with it (I'm joking, don't sue me!).

Only way to steer them in a different direction is legislation.

Or if we all buy Teslas?

 

[boik]

BBC getting click-baity again. "shuns renewables" is hardly correct, it's a reduction of investment in this area. share price has under-performed others that stuck focus on oil and gas.

I think you're quibbling. How would you describe it in the few words that are available for a headline then?

 

[beorhthelm]

I think you're quibbling. How would you describe it in the few words that are available for a headline then?

Sky went with "slashes", i'd go with "reduces".

 

[Tom Hark Preston Park]

Trump has emboldened such corporate behaviour sadly

 

[GingerBeerMan]

BBC getting click-baity again. "shuns renewables" is hardly correct, it's a reduction of investment in this area. share price has under-performed others that stuck focus on oil and gas.

They're up 36%, but it's not as high as Exxon's 150% or whatever it is. Apparently growth, HUGE growth, like BP have shown isn't enough when you can have even larger growth. It's this kind of mindset which will send humans to extinction.

 

[Westdene Seagull]

The problem being that many peoples private pension schemes have shares in companies like BP - are you willing to take a hit on your pension to keep BP's investments in renewals or would you rather they dump renewals in favour of more profits thus better payments into your pension? Personally I go with the former but I'd suggest a majority would go with the latter. Time for everyone to step up to fight climate change.

 

[Madafwo]

The problem being that many peoples private pension schemes have shares in companies like BP - are you willing to take a hit on your pension to keep BP's investments in renewals or would you rather they dump renewals in favour of more profits thus better payments into your pension? Personally I go with the former but I'd suggest a majority would go with the latter. Time for everyone to step up to fight climate change.

I'd quite like there to be a habitable planet to live on if I make retirement age, so yeah, I'd take a couple of quid less.

 

[wehatepalace]

I think these fuel companies are aware fully synthetic fuel will be along relatively soon, hence the lacklustre investment in renewables.