Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (60152)	2/7/2005 3:58:05 PM
From: Maurice Winn	Respond to of 74559

David, thanks for the link to Lord Browne's speech. It's the speech I would have written for him back in 1989 when Hans den Ouden, boss of the Consumer and Industry business, told me BP was moving in the right direction and I laughed. It was moving verrrryyyy slowly at the time. But the process obviously accelerated. I'd been pushing environmental matters for years. Actually, BP is not now buying oil and gas supplies, because they are too expensive; they also said that, which doesn't contradict John Browne's speech. Note in his speech that they intend to greatly increase their gas and oil production. <We supply just 1.5 per cent of the world's energy and around three per cent of the world's oil and gas.> As you can see, BP isn't dominating the world's energy production. Oil is too expensive. BP isn't buying it. They will of course continue to develop their own stocks and take on certain projects because the prices are high and profits extreme. Mqurice