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November 29, 2005


Denis Du Bois

BP is smart to deflect general criticism of oil companies for not reinvesting their windfall in research.

And clever: Not investing in fuel alternatives that would eat into their profitable oil and gas business.

And shrewd: CO2 sequestration gets rid of the carbon, but it also helps make older oil fields more productive.

Combined cycle turbine generating plants are not alternative energy. They burn large quantities of fossil fuels, just more cleanly than the conventional electric plants operating across the U.S. today.

The announcement doesn't mention whether nuclear is one of the "alternatives" BP would invest in, but there is currently a tremendous amount of spin and propaganda promoting nukes as green.

The press release says BP "may invest up to" $8 billion over 10 years. Meanwhile, their budget for conventional oil and gas projects is almost $15 billion /per year/. In ten years, they'll spend $150 billion on fossil fuels and maybe $8 on electric energy alternatives.

It could be worse. Exxon Mobil dismisses renewable energy and puts its record profits into shareholder dividents.


you seem to admire/ despise oil companies, I agree with your assessment, their just like any other bussiness. they take advantage of what is best, and right now, fossil fuels are defenitely the best. Alternative fuels will not come from oil companies I can tell you that, or hydrogen, or electric cars

it will come from nanotech and increased efficiency, and if the day the viable alternative were to show up. I am sure the oil companies would be the first to realize this and start transforming

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