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36 comments on Lord Browne Speaks, Beyond Petroleum?

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louGrinzo on December 1, 2005 - 10:31pm Permalink | Subthread | Comments top
I think it's fair to say that browne knows damn well what's going on with PO, and he's following a two-stage plan:

  1. Do everything possible to keep people calm in the short run.  That includes making up a sincere-sounding but oh-so-convenient set of lies, i.e. oil will get cheaper, but we're doing renewables because people like local production.

  2. Go full steam ahead on those projects that will benefit BP and the whole world, namely renewable energy development.
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Bubba on December 1, 2005 - 10:53pm Permalink | Subthread | Parent | Comments top
Don't believe their PR.  Beyond Petroleum is investing almost exclusively in Petroleum.  I will check their numbers, but to venture a guess, I would say that 90 to 95% of next years capital expenditure for BP will be in Hydrocarbon Related ventures (both upstream and downstream).  
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Bubba on December 1, 2005 - 11:45pm Permalink | Subthread | Parent | Comments top
Looking on BP's website it is hard to find out how much they are investing in renewables (or any other segment of their business), but for one thing, they report PROFIT from renewables from under the heading of "Gas, power, and renewables".  Of this the "Gas, Power, and Renewable" segment made 0.9 billion out of almost $26 billion in profit (2004 numbers). This is about 4% of the total, and you can bet that the "Gas and Power" part made the lion's share of that profit.

BP is into alternatives and renewables for the PR value, not to make money, at least in the short to medium term.

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Bubba on December 2, 2005 - 12:05am Permalink | Subthread | Parent | Comments top
Apparently, 2 days ago BP just launched a subsidiary called Alternative Energy.  Again they play up the Wind, Hydrogen and Solar, but they include gas-fired power.  They claim that they will invest 8 billion dollars in the next 10 years in this business starting off with an investment of 1.8 billion for the next 3 years - roughly split equally between all four business segments.  

This is great, but it is not a significant chunk of BP's investment capital.  My guess is that it is about 5% of their forecasted capital over that period.

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sampo on December 2, 2005 - 1:13am Permalink | Subthread | Parent | Comments top
excuse me, but bubba...you f*cking rock.

thx for the infos

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36 comments on Lord Browne Speaks, Beyond Petroleum?

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