Actually, they are trying to transform their company. Don't forget that BP is out in front on cap and trade and helped write the Democrats' bill.
They likely thought up the $20B fund. It will them to get their green ideas disseminated.
BP would like to beat all the US companies in green energy because if US policy ever changes to favor the US oil companies BP will be out in the cold. So they have been and will continue to combine with the Dems to try to defeat the US oil companies by leading us all into a green revolution. This is their big chance.
The only problem with all of this is that the oil is still gushing out into the Gulf. No amount of “save my ass” green energy investment will save BP, as they paddle against the tide of the reality of their pollution. The whole think stinks, and the president does not have the power to do what they are doing. If Exxon et al was smart they’d sue over this (you know, “helping out” their fellow sister in oil)- wonder if they will.