Is this the beginning of bp selling off more US assets? I hope it is not the tip of the iceberg.
5 replies (most recent on top)
The Spanish slang “pero que Laura no muerde”....so applicable to bp’s impressive green reimagine and reimagine and more reimagine. bp is tenacious in claiming it can do wonders and a few months later has no shame to pretend a tornado an earthquake some alien force work against them and now they will be what else the next and upcoming flavor of the month. They represent people that are trying to siphoning money from the market.
I'm truly amazed that BP is wading into green energy. In all of the years I was associated with this company, I came to recognize that it talks big about development of long-term solutions, but when no one is listening, they demand short-term results. It's all about optics folks - if it makes BP look good to others, they'll do it. All of the talks by others about transitioning to "green" transportation fuel hasn't been successful. THE only way to do this is to get all of the companies to drop petroleum and force us into an economy based on green energy. You can be sure that what we are now paying for fuel will be cheap by comparison. Looney is wrecking the company to achieve a goal so distant in the future that he's assured himself that he won't be around to suffer the consequence of his "re-invention" and "big ideas."
Company is toast
Paring down for buyout
Crumbs for workers/ shareholders
early retirement for Limpdickie
Plan exit
Get out while you can
That’s all fine, but as an employee and investor I think I am out of this industry. Fossil fuels are no longer profitable, and green energy is neither profitable nor scalable. Bernie thinks he’s reinventing bp, but the reality is he is handicapping it for the next 20+ years until technology catches up with his vision - if the company survives that long.
BP selling off assets, U.S. or otherwise, started well before exiting this GOM communication fiber line. But now we know growth of the oil and gas business that has been our heart is over. Looney has said no new oil and gas development, no new oil and gas acquisitions. BP will keep just enough O&G to support the infrastructure while transforming into his reimagined BP as a renewable energy company. Questions remain tho about if he can be successful. Wisdom dictates that as employees, we make our future plans with this in mind.