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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Maurice Winn who wrote (60148)2/7/2005 3:25:08 PM
From: Taikun  Read Replies (1) of 74559
 
Mq

Here:

<Note that Lord John Browne of BP is not interested in buying energy supplies at current prices. That's because they are too expensive.>

Your inference is flawed. It is not because they are too expensive, but it is because:

1. BP is pursuing alternative energy such as solar
2. BP is committed to reducing CO2 output and more fossil fuels will increase CO2 output. Producing natural gas creates CO2 output for BP, solar, for example, does not.
3. BP is buying stakes in companies (TNK in Russia, for example) instead of acquiring raw assets.
4. BP is focussing on expanding their TNK JV. There is potentially huge upside there. (26 bn bbl is the amount estimated recoverable using BPs technology. The question I have is when Russia will annul the deal)

"That's why we set our own target - to reduce our own emissions of greenhouse gases by 10 per cent from a 1990 base line by the year 2010. "

subsites.bp.com

David
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