Maybe BP’s Latest Ad Campaign

In the past, some environmentalists have criticized BP’s renewables activities as a sop aimed at greening the firm’s oily image.

isn’t just schmaltz, huh? Putting your money where your commercials are lends a certain credence, I think.

The London-based oil giant will form a new unit called BP Alternative Energy to manage a fleet of projects that BP said had the potential to deliver sales around $6 billion a year within a decade.
An initial $1.8 billion would be invested over the next three years, spread in broadly equal proportions between solar, wind, hydrogen and combined cycle gas turbines. Cox said the larger part of this would be invested in the United States.
…BP’s move is at odds with the views of some in the oil industry, including the world’s largest private oil and gas firm, Exxon Mobil , which argues renewables are a poor use of investors’ funds.

2 Responses to “Maybe BP’s Latest Ad Campaign”

  1. BP is showing a little more foresight than the other oil companies by working with renewables. While it may be a short run loser, in the long run it will pay off.
    Look at it this way, in 10-12 years hydrogen powered fuel cell cars, or hydrogen internal combustion cars (BMW has them) are on the road, and suddenly BP is THE company with infrastructure for producing, and the means to distribute.
    Now the other oil companies are playing catch up, while BP play cash the checks.

  2. Oh, I agree completely. They are going to be so far ahead of the game instead of just raking in the dough. Plus, don’t you think it helps just a teensy-weensy bit in the PR department? While all the other oil companies are tapdancing about profits in front of posturing Senators, BP is the only company that can say “and we’re investing those monies in green research.”

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