To BP or not to BP
1 augustus 2008
Yesterday (july 31st) the Financial Times covered an article (“BP denies renawebles float plans”) on signals that the oil company is making its renewables division a distinct business. Is BP preparing to float this division? An IPO of a (minority) stake is not being rulled out. The outcome of this discussion will obviously define BP’s future and existince, which the FT would like to see spelled out.
For those who want to have some funny insights on BP’s struggle to balance its oil and alternative energy business I happily refer to Mr Hayward’s recent column on The Onion.org
In this column (“We're investing so much in alternative fuels, sometimes we almost forget to pump oil!”) Hayward expresses his love for alternative energy; oil is not on his mind, just a part of the company’s history. “You know, I guess I've been so caught up in trying to make petroleum obsolete, I plumb forgot we're still in the business of selling fossil fuels. Oh sure, oil used to be a big thing with us from 1901 until after the new millennium, but these days I'm so busy with all the green-themed advertising campaigns and making a lasting commitment to our children's future—well, I just haven't thought about our worldwide system of oil fields in months!” Maybe the FT should read this column to find out the Mr Hayward has already spelled out his future... You should read it for a good laugh!
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