Today, alongside its second-quarter results, BP announced that it will cut oil and gas extraction — excluding its major share in Russian oil giant Rosneft — by 40% by 2030.
The oil companies go to great efforts to portray their forecasts as works of objective analysis of the future. They are not – they are self-serving descriptions of the futures the companies would like policymakers and investors to believe in.
This blog, by Greg Muttitt, Senior Adviser at Oil Change International, was first published on Energy Post BP’s new Energy Outlook predicts ever-growing demand for oil and gas, and rising emissions that would take the world well beyond 2°C of warming. Previous Outlooks do not provide much confidence in BP’s projections. In particular, the … Read More
Dressed in a veneer of concern about climate change, in fact BP’s outlook is a public relations exercise, designed to boost fossil fuels and undermine public faith in clean alternatives. Meanwhile it deflects responsibility to government or to coal companies, to distract from its own extraction of oil and gas.
How BP’s Outlook for Energy looks to the past not the future
The oil industry and its allies are used to dismissing those who are warning about climate change as a bunch of lentil-eating, sandal-wearing commies. But over the last few months we have seen a growing number of authoritative voices calling for fossil fuel disinvestment, with a growing number of institutional investors actually saying they will disinvest from fossil fuels.
How about some good news for a change? The end of the dominance of the oil age could be sooner than you think.
The US could soon replace Saudi Arabia as the world’s leading oil producer, just as the Saudis promise to go green
The respected chief economist of the IEA, Fatih Birol, has warned that the world will become increasingly reliant on shale gas and oil from Iraq in the coming decades. In part to help stave off the growing public backlash against shale gas, the IEA is preparing, along with a number of governments, a set of “best … Read More