BP’s chairman says world is on ‘an unsustainable path’ | Financial Times

BP’s chairman says world is on ‘an unsustainable path’ | Financial Times:

BP’s chairman said he recognised that the world’s energy consumption was on “an unsustainable path” and the oil major’s days of chasing ever higher output are coming to an end.

Writing in the Financial Times on Tuesday, Helge Lund acknowledged the need to repurpose BP’s business for a lower-carbon future. However, he did not detail how it would do so and continued to reject investor calls to set hard emissions targets for the use of the fuels it produces.

“With the oil price above $70 a barrel for Brent crude, surely BP wants to keep producing and selling as much as it can for as long as it can? On the contrary,” he said, timing his comments with the company’s annual meeting in Aberdeen.