“BP has decided to market for sale our U.S. wind energy business as part of a continuing effort to become a more focused oil and gas company and re-position the company for sustainable growth into the future
BP to Sell U.S. Wind Business in Retreat to Fossil Fuels – Bloomberg
Disrupting the Borg is expensive and time consuming!
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Priceless!! 😀
Cue the alarmists/environmentalists proclaiming BP as a sell out. Funny thing is that corporations tend to ditch technology that turns out to be unprofitable, usually because it doesn’t work well enough to make a buck.
That’s why the technologies need enormous government subsidies, partially paid for by massive carbon taxes. Australia’s would have been paying $131 per tonne in 2050 were it accepted by both sides of politics. Thankfully, it will be gone in 5 months and will be political poison from then on.
They sold off/closed down their solar division also.
Companies are all too susceptible to “green-mail”, as evidenced by the parade of decent corporations that have at least tossed a bone in the direction of “green” this or “green” that. Some have gone so far as to adopt “green-ing” as part of their brand. May they suffeer their own demise.
It’s sad, because at least several handsful of folks in the accounting section know that these gestures are just tossing dollars out the window. But the Marketing guys press for “indulgences” to be paid the green-thugs to avoid being portrayed by the Left/Liberal media as bad guys.
All of this amounts to lost productivity, lost profit, fewer jobs, etc., etc.
It is a criminal waste of human ingenuity and capital
Around one in five families owes money to their gas or electricity supplier according to a study – up nearly 50% on last year.
A recent string of price hikes by energy companies combined with the unseasonably chilly weather could see the size of people’s energy debts shooting back up again.
http://news.sky.com/story/1075516/energy-debts-amount-families-owe-mounts
BP had already bowed out of the solar market saying there was not enough profit in it.
http://dailyenergydump.com/2013/03/13/bp-breaks-with-solar-energy-industry-grapples-with-issues/
The gravy train must be losing steam.
The calculation may be complex but inevitable. The warranties are about to expire on the wind turbines. Failure rates are way above projections. Subsidies are declining. We made good money of these things (or not). Outlook negative. Time to sell.
Only one million cloyingly self righteous, self promoting, chiding advertisements too late.
This isn’t from BP, but you get the idea.
http://www.youtube.com/watch?feature=player_embedded&v=ML8WzrSZLp8
Apparently ‘Joe’ has not heard of ‘rare earth metals’. But how could he, he has his head in the sand! 😆
Oh… and weird
http://www.youtube.com/watch?feature=player_embedded&v=mCGjlSpzpi4
And Mister Green clean energy wind turbine GE just announced it is buying an oil field equipment company.
http://www.reuters.com/article/2013/04/08/us-ge-lufkin-idUSBRE9370AL20130408