Things may be bad for BP, but at least the company is not going to go nuclear.
The oil major has confirmed it will not enter the nuclear power business, despite a dearth of opportunities in conventional oil and gas pushing rivals into alternative energy sources including nuclear.
“We’re not going to go into nuclear. We don’t have any skills, any basis for doing that,” Chief Executive Tony Hayward told a press conference in London. Last month, the fourth-largest western oil major, France’s Total bid with partners to build two nuclear reactors in the United Arab Emirates.
Difficulties in finding new oil and gas fields to invest in has already prompted BP to invest in Canada’s dirty and very heavily polluting oil sands.
So its rejected one hazardous technology in favour for another…