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BP Invests $3 Billion in Alternative Energy Globally

bloomberg.com -- BP Plc, Europe’s second-biggest oil company, has invested $3 billion in alternative energy globally and is on course to meet its commitment made in 2005 to spend $8 billion, said a company official.

London-based BP will focus mainly on wind power projects in the U.S., solar in India and China and biomass in Brazil, BP China President Chen Liming said at a Beijing conference today.

BP’s alternative energy unit earmarked $8 billion of investment in the decade through 2015. Expansion in biofuels, along with solar, wind-power and carbon-capture and storage projects, will help the company cut greenhouse-gas emissions blamed for global warming, Katrina Landis, who heads the unit, said in September.

BP has secured possible sites for as many in 100 wind projects with a potential

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Submitted Nov 20, 2009 By: teafortwo

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mobil2009 Champion Author Chicago Posts:1,127 Points:231,710 Joined:Jun 2009	Message Posted: Dec 11, 2009 5:22:39 PM Ignore mobil2009 Report Abuse Done
DerHahn Champion Author Illinois Posts:7,115 Points:974,985 Joined:May 2004	Message Posted: Nov 21, 2009 8:51:05 AM Ignore DerHahn Report Abuse i noticed they aren't doing anything with biodiesel which can be made from waste products and greatly reduce oil demand coming from opec.
rodzilla123 All-Star Author San Diego Posts:789 Points:237,090 Joined:Jul 2008	Message Posted: Nov 21, 2009 12:11:49 AM Ignore rodzilla123 Report Abuse Good Job BP. Lets do it all and show the Black Hearted Liberal Jackasses that even after it si all done and said, It wont amount to a Hill of Beans difference. The Earth is going to do as it pleases, and nothing we can do will ever be anywhere near as bad as what Mother Nature has done to this Planet in the past. Its still here, and changes and rejuvrnates as it desires.
Focus2 Champion Author Illinois Posts:3,585 Points:1,092,080 Joined:Mar 2006	Message Posted: Nov 21, 2009 12:06:05 AM Ignore Focus2 Report Abuse If big oil controls energy in what ever direction we go, then I see little break for the consumer that is being ripped off already. Maybe the analyst and others will start to talk "peak winds" or sunshine due to global warming and jack up prices according to the weather reports.
texasvet All-Star Author Texas Posts:808 Points:99,875 Joined:Jul 2009	Message Posted: Nov 20, 2009 11:50:27 PM Ignore texasvet Report Abuse Wasting resources on politically correct chimerae.
JoeKR Champion Author New Jersey Posts:4,215 Points:995,445 Joined:Feb 2006	Message Posted: Nov 20, 2009 11:42:11 PM Ignore JoeKR Report Abuse Big Oil will remain a big energy player even when oil is exhausted!
mstearno Champion Author Dayton Posts:3,048 Points:633,990 Joined:Jan 2008	Message Posted: Nov 20, 2009 11:35:56 PM Ignore mstearno Report Abuse notice globally
milespergallon Champion Author Illinois Posts:4,278 Points:925,215 Joined:Feb 2007	Message Posted: Nov 20, 2009 11:19:34 PM Ignore milespergallon Report Abuse Wind power? That is an alternative? Says who?
altima2008 Champion Author Philadelphia Posts:2,368 Points:594,355 Joined:Apr 2008	Message Posted: Nov 20, 2009 11:19:02 PM Ignore altima2008 Report Abuse Hey nobama is full of hot air maybe he could at least power the district of columbia!
phurburger Champion Author Atlanta Posts:2,196 Points:459,050 Joined:Oct 2005	Message Posted: Nov 20, 2009 11:18:13 PM Ignore phurburger Report Abuse This is just good business sense. It's a hedge, not a commitment to give up on good business markets and a huge economy.
fasu007 Veteran Author South Carolina Posts:411 Points:556,200 Joined:Jun 2008	Message Posted: Nov 20, 2009 11:16:01 PM Ignore fasu007 Report Abuse Where are the rest of the companies? Let's get going with some research.
SSchmidty Champion Author Illinois Posts:3,459 Points:659,540 Joined:Mar 2008	Message Posted: Nov 20, 2009 11:15:43 PM Ignore SSchmidty Report Abuse pig-oil attempting to remain relevant ....
idigau22 Champion Author Modesto Posts:15,943 Points:2,206,160 Joined:Apr 2003	Message Posted: Nov 20, 2009 11:01:34 PM Ignore idigau22 Report Abuse If BP is going to focus mainly on wind power in the U.S., They should start in Washington DC! More Hot Air and Blowhards there then anywhere else on earth!!
BamaPack All-Star Author Atlanta Posts:777 Points:195,645 Joined:Sep 2008	Message Posted: Nov 20, 2009 10:55:17 PM Ignore BamaPack Report Abuse good...they can afford it
eagleeye2008 Champion Author Wisconsin Posts:3,114 Points:587,140 Joined:Jul 2008	Message Posted: Nov 20, 2009 10:45:43 PM Ignore eagleeye2008 Report Abuse Good news,but,,,we will see ???
cincidap Champion Author Cincinnati Posts:2,810 Points:551,250 Joined:Sep 2006	Message Posted: Nov 20, 2009 10:40:08 PM Ignore cincidap Report Abuse As "Beyond Petroleum", they'd better be!
Bleeder Champion Author Virginia Posts:3,100 Points:653,605 Joined:Jan 2008	Message Posted: Nov 20, 2009 10:39:02 PM Ignore Bleeder Report Abuse They should not be the only ones. Of course Government motors would need another loan of taxpayer money to do anything like this.
bad_sailor Champion Author London Posts:2,124 Points:554,930 Joined:Dec 2007	Message Posted: Nov 20, 2009 10:28:43 PM Ignore bad_sailor Report Abuse Good for them.
dkinsf Champion Author San Jose Posts:2,367 Points:666,710 Joined:Mar 2007	Message Posted: Nov 20, 2009 10:28:29 PM Ignore dkinsf Report Abuse $3 billion is a start. Let see if it continues or is this just a PR play.
Grismer Champion Author Kitchener-Waterloo Posts:2,919 Points:612,005 Joined:Apr 2008	Message Posted: Nov 20, 2009 10:28:22 PM Ignore Grismer Report Abuse So replacing oil will not eliminate the the profits when the time comes. Right on BP.
Chris46 Champion Author Dayton Posts:9,117 Points:1,098,550 Joined:Sep 2005	Message Posted: Nov 20, 2009 10:27:31 PM Ignore Chris46 Report Abuse They must smell a profit (Kazillions) in the making.
ssect8 Champion Author Hartford Posts:2,214 Points:1,071,090 Joined:Jun 2006	Message Posted: Nov 20, 2009 10:21:22 PM Ignore ssect8 Report Abuse More money for them if they can find the golden goose to replace oil.
paulydel Champion Author Delaware Posts:3,499 Points:407,665 Joined:Jan 2008	Message Posted: Nov 20, 2009 10:06:20 PM Ignore paulydel Report Abuse Good for them.
RoadRover Champion Author Jacksonville Posts:2,673 Points:388,480 Joined:May 2004	Message Posted: Nov 20, 2009 10:01:52 PM Ignore RoadRover Report Abuse I feel a lot of HOT AIR! GO blow a somewhere else. This is only to make them LOOK good and for a HUGE TAX WRITE OFF. [Edited by: RoadRover at 11/20/2009 10:03:24 PM EST]
RobRD Champion Author Alberta Posts:3,683 Points:866,870 Joined:Jul 2007	Message Posted: Nov 20, 2009 10:00:34 PM Ignore RobRD Report Abuse Good for BP.
TBONE3 Champion Author Pennsylvania Posts:3,007 Points:830,570 Joined:Mar 2005	Message Posted: Nov 20, 2009 9:45:28 PM Ignore TBONE3 Report Abuse I was happy when BP first opened a station in the US back in the sixties and even happier they are looking at wind power here. keep on experimenting BP.
tnsilvertip All-Star Author Tennessee Posts:997 Points:400,900 Joined:Oct 2005	Message Posted: Nov 20, 2009 9:34:27 PM Ignore tnsilvertip Report Abuse Good for BP. Hope some Americans get a job.
Asbury09 Champion Author Iowa Posts:1,510 Points:385,955 Joined:Jan 2009	Message Posted: Nov 20, 2009 9:27:23 PM Ignore Asbury09 Report Abuse free enterprise without government help
Cyberkedi Champion Author Atlanta Posts:8,330 Points:1,406,175 Joined:Aug 2005	Message Posted: Nov 20, 2009 9:27:04 PM Ignore Cyberkedi Report Abuse Bully for BP! This is capitalism at its best. I'm glad that I have a BP card.
PissedCanuck Champion Author Toronto Posts:3,140 Points:680,650 Joined:Nov 2006	Message Posted: Nov 20, 2009 9:25:52 PM Ignore PissedCanuck Report Abuse How about setting up recharging stations for all those Hybrids in the local BP gas stations to get to first base before we can talk about anything else positive for the environment. All talk and no action.
WCCurtis Champion Author San Bernardino Posts:2,173 Points:747,320 Joined:Oct 2005	Message Posted: Nov 20, 2009 9:25:22 PM Ignore WCCurtis Report Abuse Capitalism at its best.
REKEY Champion Author South Carolina Posts:2,795 Points:567,390 Joined:May 2008	Message Posted: Nov 20, 2009 9:25:13 PM Ignore REKEY Report Abuse Another way to screw us!
ChuckGVT Champion Author Vermont Posts:1,217 Points:559,415 Joined:Apr 2008	Message Posted: Nov 20, 2009 9:24:54 PM Ignore ChuckGVT Report Abuse So?
NavyStore Champion Author Seattle Posts:1,862 Points:1,015,965 Joined:Aug 2005	Message Posted: Nov 20, 2009 9:24:07 PM Ignore NavyStore Report Abuse Of course they are investing in it... they want to keep their boot on the neck of the American consumer.
BEngr All-Star Author Illinois Posts:889 Points:449,750 Joined:May 2008	Message Posted: Nov 20, 2009 9:21:48 PM Ignore BEngr Report Abuse BP is taken the right approach to diversify. They will be in the energy business for the long haul.
danreino Champion Author Twin Cities Posts:2,948 Points:514,020 Joined:Mar 2008	Message Posted: Nov 20, 2009 9:20:09 PM Ignore danreino Report Abuse Thank You Cincinnati Tom (3 n's) [Edited by: danreino at 11/20/2009 9:22:04 PM EST]
TomT2Lee Champion Author Cincinnati Posts:3,161 Points:1,024,035 Joined:Sep 2005	Message Posted: Nov 20, 2009 9:17:12 PM Ignore TomT2Lee Report Abuse To bad your theory is completely wrong MDTDriver.
clermont40miles Champion Author Cincinnati Posts:3,732 Points:639,835 Joined:Apr 2008	Message Posted: Nov 20, 2009 9:16:57 PM Ignore clermont40miles Report Abuse Affordable? Must be competitive to be worthwhile.
sillywagon Champion Author New York Posts:4,455 Points:421,555 Joined:Oct 2008	Message Posted: Nov 20, 2009 9:16:43 PM Ignore sillywagon Report Abuse I would assume that they are doing this to make money, to make profit. I just wonder how much tax dollars, and subsidies they will be getting to pursue these alternatives?
MDTDriver Champion Author California Posts:4,106 Points:1,017,245 Joined:Jul 2006	Message Posted: Nov 20, 2009 9:13:10 PM Ignore MDTDriver Report Abuse Like I said months ago all oil companies invest in Aternative Energy the price of gas will fall to the bottom very soon.
k2kipp Veteran Author Minnesota Posts:458 Points:266,615 Joined:Sep 2005	Message Posted: Nov 20, 2009 9:07:37 PM Ignore k2kipp Report Abuse Sounds good. Keep on truckin...
camel1 Champion Author Minnesota Posts:3,085 Points:1,172,320 Joined:Jul 2006	Message Posted: Nov 20, 2009 9:01:07 PM Ignore camel1 Report Abuse A focus on alternative is at best suspect for BP
WIPACKERFAN Champion Author Chicago Posts:3,083 Points:707,885 Joined:Aug 2005	Message Posted: Nov 20, 2009 8:57:26 PM Ignore WIPACKERFAN Report Abuse Diversification is always good.
skybiker Champion Author South Carolina Posts:2,567 Points:498,305 Joined:Jul 2008	Message Posted: Nov 20, 2009 8:56:25 PM Ignore skybiker Report Abuse We are still a long way from this coming to fruition...
fizbos Champion Author Maine Posts:2,092 Points:1,037,660 Joined:May 2006	Message Posted: Nov 20, 2009 8:55:12 PM Ignore fizbos Report Abuse That will buy some good greenie PR in Europe!
skybiker Champion Author South Carolina Posts:2,567 Points:498,305 Joined:Jul 2008	Message Posted: Nov 20, 2009 8:52:57 PM Ignore skybiker Report Abuse I would like to see independent research company do this instead...
us4usa All-Star Author Missouri Posts:726 Points:98,930 Joined:May 2008	Message Posted: Nov 20, 2009 8:46:54 PM Ignore us4usa Report Abuse Good for US jobs on the wind power projects wish they would have the solar projects here also
dbatw All-Star Author St. Louis Posts:823 Points:192,390 Joined:Apr 2009	Message Posted: Nov 20, 2009 8:46:48 PM Ignore dbatw Report Abuse good 'ole British Petroleum: they are investing in future ways to screw the consumer.
cutter1330 Champion Author Oklahoma Posts:2,261 Points:547,985 Joined:Jul 2005	Message Posted: Nov 20, 2009 8:45:35 PM Ignore cutter1330 Report Abuse Covering most of new alternatives.
ziyulu Champion Author Oklahoma City Posts:2,601 Points:492,980 Joined:Aug 2007	Message Posted: Nov 20, 2009 8:44:13 PM Ignore ziyulu Report Abuse Definitely beyond petroleum, looking into alternatives.