BP dropped green energy projects worth billions to focus on fossil fuels

[Surya Gayatri]

Source: The Guardian

Oil firm invested billions of pounds in clean and low-carbon energy in the 80s and 90s but later abandoned meaningful efforts to move away from fossil fuels and locked away the research.

BP pumped billions of pounds into low-carbon technology and green energy over a number of decades but gradually retired the programme to focus almost exclusively on its fossil fuel business, the Guardian has established.



At one stage the company, whose annual general meeting is in London on Thursday, was spending in-house around $450m (£300m) a year on research alone - the equivalent of $830m today.

The energy efficiency programme employed 4,400 research scientists and R&D support staff at bases in Sunbury, Berkshire, and Cleveland, Ohio, among other locations, while $8bn was directly invested over five years in zero- or low-carbon energy.

Read more: http://www.theguardian.com/environment/2015/apr/16/bp-dropped-green-energy-projects-worth-billions-to-focus-on-fossil-fuels

---

Who could've guessed? Color me utterly astonished!

[Dustlawyer]

1. By 2005, BP was spending over 100 million on a PR campaign about how they were working on

green technology, yet they were only spending 5 million on the actual projects. It was all a scam! I saw the documents as part of their production of docs from the Texas City Texas plant explosion litigation. BP only cares about profits, to the exclusion of all else! They budgeted how much each work related death would cost when deciding what to spend on maintenance.

[jwirr]

2. How many of you have seen that BP add on MSNBC when the guy talks about how good they are

doing in LA. I get furious every time I see it.