Big Oil Is Selling Its Dirty Assets, But They Aren’t Going Away - Bloomberg:
When BP Plc announced its historic exit from Alaska, Chief Executive Officer Bob Dudley pointed to an extra perk from the $5.6 billion sale: a significantly lower carbon footprint.
Cutting emissions is important for Dudley, partly because influential shareholders are forcing BP to align its spending to climate goals. But there’s a catch.
Hilcorp Energy Co., the buyer of the Alaska assets, plans to pour more money to boost production there than BP would have, according to Dudley. That could end up making the carbon problem worse than it was.
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