| | | Speak of the Devil - BP sagging sadly. Understandably.
Way back in the late 1970s and early 1980s BP went postal and got into mining, fish farming, forestry, chemical industry and even embryo transfer [Farmkey which Duncan Simpson who had been Lubricants Manager was put in charge of]. Duncan had seen cows but had no idea how the industry worked. He told me funny stories about bidding for cattle [having no clue what price was reasonable and simply used rthe other bidders as a guide and how they'd collect semen from a bull by being inside a fake cow and collecting said semen when the bull mounted said fake cow with the collector inside!!
After some years of failure, BP went back to being an oil company. In the late 1980s I wanted to leverage BP's pretty powerful computing department into a general information management business which would have led directly to Cyberspace and satellite [my plans]. In fact I was offered that job by the man who was going to take it over. But we were heading back to NZ and I quit BP.
Meanwhile, I had been pushing BP to get into the environmental satisfaction business by promoting sensible legislation to governments to force the industry to get rid of lead and make various environmental improvements in emissions from vehicles. But they went crazy and seem now to have been suckered by bung CO2 science and fake computer models that bear as little relationship to climate as a hiring a prostitute does to marriage.
“BP Week” this month was his big moment, designed to put flesh on the bones of a bold plan to become a “net-zero” energy company by 2050.
The word "bold" has been used in recent years as though it's a good thing. But the usage usually ignores that the word "bold" includes serious risk of failure and even likelihood of failure. I prefer the usage "There are old motorcyclists, there are bold motorcyclists, but there are no old, bold, motorcyclists".
No wonder the share price has slid so far. BP has lost its mind. For example, they paid far too much for the UK car charging business. Petrol stations cannot become recharge sites. A petrol or diesel refill takes 3 minutes. A battery recharge takes an hour and that's if there's no queue. If third in line, that'll be 2 or 3 hours while third in line for petrol will take 9 minutes.
Petrol stations could become battery swap sites but that's not the plan and there's no reason why existing petrol stations would be the ideal sites for recharge parking areas. Taking 10x as long to recharge means 10x the area needed to do the recharging for the same number of cars. Those would be BIG recharge stations.
Mqurice |
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