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Technology Stocks : The Electric Car, or MPG "what me worry?"
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From: Eric8/6/2020 10:35:59 AM
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BP aims to build 50GW renewables by 2030 as it finally moves to go beyond petroleum


 A gas pump at a BP station in London, Tuesday, August 1, 2017. Oil producer BP’s second-quarter earnings slipped 5 percent as the Deepwater Horizon disaster continued to weigh on the company. (AP Photo/Caroline Spiezio)

Joshua S Hill 6 August 2020 0 Comments

London-based BP, one of the world’s largest oil and gas super-majors, has left its traditional industry reeling after announcing a mammoth strategy to transition the company into “an integrated energy company” with plans to increase low-carbon investment 10-fold and build out a 50GW renewable generating capacity by 2030.

BP, founded in 1909 and once known as The British Petroleum Company, has long been one of the world’s seven oil and gas super majors and the target of much criticism for its role in contributing to the world’s carbon emissions problems.

Of late it has been showing signs it is serious of moving beyond, or even delivering on its decade-ago “beyond petroleum” marketing campaign (which was little more than marketing), and increasing efforts towards a demonstrable transition to a net zero future, which it has already committed to reach by 2050 or sooner.

This week, BP unveiled its new strategy which focuses on the heavy build out on renewables and a focus on electric vehicles. According to Valentina Kretzschmar, Vice President of analysts Wood Mackenzie, it’s a strategy that far outpaces any of its peers.....

reneweconomy.com.au

My comments:

Evolve or die.

Looks like reality is finally sinking in.

Eric
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