Live by the sword: green energy edition

Klaus

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The abrupt resignation of BP chief Bernard Looney marks the loss of an executive who pushed for a transition to clean energy more aggressively than any of his industry peers, with mixed results. BP said Tuesday that the 53-year-old chief executive officer was departing after failing to fully disclose to the company board some of his past relationships with colleagues. Chief Financial Officer Murray Auchincloss will take the top job on an interim basis. Looney’s exit caps a tumultuous three years leading BP in its most radical strategy shift since John Browne transformed the company into a transatlantic giant. From the North Sea to West Texas, Looney pushed BP into greener territory, with big bets on hydrogen and offshore wind. Without the architect of that pivot, the company’s direction is now in question.

 

HudsonFalcon

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I think the writing was on the wall for Looney months ago.

I read an article earlier this year stating BP was investing billions more than previously planned in fossil fuels.
 

98 svt

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Who hires a guy named "Looney" anyway?


GIF by Steve Harvey TV
 

JPKII

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Many of these "green" directives are being driven by activist investors and board members. This type of spending also makes for great marketing. And I make a fair living off selling them the bits they need. :)
 

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