Posted on 04/03/2013 12:13:54 PM PDT by thackney
BP is putting its wind business on the block, its latest retreat from renewable energy as the company moves to focus on its core oil and gas operations.
The British oil giant has touted the growth of its wind operations in recent years, but is adjusting “as part of a continuing effort to become a more focused oil and gas company and reposition the company for sustainable growth into the future,” said spokesman Matt Hartwig in an emailed statement.
The company has interest in 16 operating wind farms in nine states, including its Sherbino wind farm in West Texas. Just last year, BP brought three new wind farms into operation, completing construction on projects in Kansas, Pennsylvania and Hawaii, and growing its net wind generation capacity by 50 percent.
In total, BP’s wind power investments are capable of generating a combined 2,600 megawatts of power, or enough to feed 780,000 homes, by BP’s calculations. The company also is involved in 2,000 megawatts of wind power projects in development.
In its 2012 annual report, BP said its wind business has created more than 200 jobs.
In 2011, the British oil giant shut down its solar business after more than three decades. At a recent industry conference in Houston, CEO Bob Dudley said, “We’ve thrown in the towel on solar. … We worked on it for 35 years and never made money.”
BP has ethanol production facilities in Brazil and the United Kingdom and biofuel research operations in the United States.
“This is not an exit from alternative energy,” Hartwig said.
Now that it’s settled the lawsuits, BP doesn’t need the green stuff for P.R. anymore.
The only problem with wind turbines is they didn’t hire anybody to harvest the shredded poultry downstream to feed the starving victims of the Obama Depression.
With all of the ‘RAT windbags and gasbags out there whining at 100% about “gay marriage” and “gun control”, I’m really surprised that this windmill gig isn’t working out for the enviroloonies.
That is why we need offshore windmills to help subsidizes the fishing industry.
Translation: "We've sucked up billions in government subsidies, green jobs programs, and political crony exchanges, so now it's time to get out of this losing business and get on with something else."
Probably 180 jobs went to affirmative action Democrat losers. Top talent would head for the oil fields, not a government-like pretend job. BP will have to take a big loss on their investment, and the buyer might then make money, but only if they can fire the Democrats and hire real workers.
The move follows BP’s controversial decision to exit the wind energy market in Europe and sell off its solar business.
More fallout from too many years of “leadership” by that fairy-boy “Sir” john browne.
Business? It’s like having a machine that makes oil - only problem is it takes 2 gallons of oil to make one gallon of oil... That’s not a business... don’t know what it is ... maybe a distraction to feed liberal idiots who want to ‘feel good’ about ‘saving’ the environment... But a business? Never.
In addition, the subsidies are going to end, shortly. Without govt. funding the shortfall of both solar and wind, the two types of energy aren’t cost effective, nor are they really viable sources of energy.
Beyond Profitability.
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