• Login
  • Register
The Daily Sceptic
No Result
View All Result
  • Articles
  • About
  • Archive
    • ARCHIVE
    • NEWS ROUND-UPS
  • Podcasts
  • Newsletter
  • Premium
  • Donate
  • Log In
The Daily Sceptic
No Result
View All Result

BP Freezes Offshore Wind Projects to Focus on Fossil Fuels

by Will Jones
27 June 2024 1:00 PM

BP has put all new offshore wind projects on pause as the oil company’s new Chief Executive seeks to focus more heavily on fossil fuels. The Telegraph has more.

Murray Auchincloss, who became permanent head of the business at the start of the year, has also frozen hiring in the offshore wind division.

The move, which was first reported by Reuters, follows investor discontent over the company’s switch to green energy.

However, it is likely to trigger a backlash from climate campaigners who have waged a years-long campaign to push BP into clean energy.

Mr. Auchincloss is seeking to slow down investments in big budget, low-carbon projects, particularly in offshore wind, that are not expected to generate cash for years.

It suggests he is reversing the policies of Bernard Looney, his disgraced predecessor, who tried to move away from fossil fuels before quitting over inappropriate relationships last autumn.

The shift to greener energy has weighed on BP’s shares as returns from renewables shrank, while profits from oil and gas soared. The global recovery from the pandemic and then Russia’s invasion of Ukraine both drove prices to new highs.

Mr. Auchincloss and Chief Financial Officer Kate Thomson have prioritised investing in and even acquiring new oil and gas assets, particularly in the Gulf of Mexico and U.S. onshore shale basins, where BP already has large operations, company sources briefed on the matter said.

Worth reading in full.

Tags: BPClimate AlarmismFossil fuelsNet ZeroOilRenewable energyWind Power

Donate

We depend on your donations to keep this site going. Please give what you can.

Donate Today

Comment on this Article

You’ll need to set up an account to comment if you don’t already have one. We ask for a minimum donation of £5 if you'd like to make a comment or post in our Forums.

Sign Up
Previous Post

Oil Well That Ends Wells

Next Post

Lockdowns Were Britain’s Biggest Ever Peacetime Mistake, Says Farage

Subscribe
Login
Notify of
Please log in to comment

To join in with the discussion please make a donation to The Daily Sceptic.

Profanity and abuse will be removed and may lead to a permanent ban.

14 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Gordon's Alive
Gordon's Alive
1 year ago

This government has cost the country billions upon billions of pounds due to lockdowns and other covid-related nonsense (PPE, track and trace, eat out to help out, useless gene therapies, etc). This money can never be recouped but something that can be done is to dramatically cut public sector spending.

The non-conservative Tories have expanded the state beyond all recognition and this needs cutting with a scythe. There needs to be a cull of the hundreds of thousands of useless public sector jobs, starting with the DIE managers. If they have a modicum of talent, they may be able to get jobs in the private sector as admin assistants.

121
0
DickieA
DickieA
1 year ago
Reply to  Gordon's Alive

Spot on. Unfortunately, this is one of the main reasons that the Tories are hemorrhaging support. Since Mrs. Thatcher was ousted, the spineless, dripping wet majority in the party have never had the cajones to cut back the state nor reform the NHS. It’s taken 30 years for many of them, but more and more of their supporters can see how much the party has let them down.

77
0
JeremyP99
JeremyP99
1 year ago
Reply to  Gordon's Alive

And so say all of us.

I’m an old school Conservative. Two things I wanted when voting for Bojo.

  1. Brexit. Which they fucked up comprehensively
  2. A smaller state. So what did they do? Grotesquely enlarge it. Not sure Corbyn would have caused as much damage.

Won’t be voting this year way things are. Reform – yeah, but Tice is a nobody.

37
0
Jackthegripper
Jackthegripper
1 year ago
Reply to  JeremyP99

Better to vote Reform and shake thing up than not vote. If you don’t vote, you can’t complain about the result. Tice is a smart and competent businessman.

14
0
RTSC
RTSC
1 year ago
Reply to  JeremyP99

Tice is a “don’t scare the horses” leader: pleasant, easy on the eye and with sound business experience.

Farage, Habib and Widdecombe supply the passion.

0
0
For a fist full of roubles
For a fist full of roubles
1 year ago

Where is the Magic Money Tree when you need it?

35
0
soundofreason
soundofreason
1 year ago
Reply to  For a fist full of roubles

Already been stripped bare.

16
0
JeremyP99
JeremyP99
1 year ago
Reply to  soundofreason

Uprooted indeed

7
0
Dinger64
Dinger64
1 year ago

Recession….incoming!

15
0
huxleypiggles
huxleypiggles
1 year ago

All going to plan for the Davos Deviants. Once this country is in hock to the central bankers we are well and truly Tom Ducked.

22
0
Freddy Boy
Freddy Boy
1 year ago

Jonathan Lis on Talk Tv via New Culture Forum !! What a leftie Chunt !!…

5
0
pgstokes
pgstokes
1 year ago

Then cut spending – reduce the civil service; privatise more of the NHS (overdue anyway); get rid of some benefits; cut overseas aid; stop assistance for migrants?

36
-1
JeremyP99
JeremyP99
1 year ago
Reply to  pgstokes

Go French. Their system works jus fine. Problem – we don’t have the nous to effect the switch and there would be a public sector general strike – “Save our beyond useless NHS” would be the slogan

https://edmhdotme.wpcomstaging.com/why-the-health-service-works-in-france-11-2022/

16
-1
Monro
Monro
1 year ago

‘….the scale of the challenge faced by politicians….’

The IFS highlights the symptoms.

The disease is socialist fascism.

The real challenge faced by politicians is, first, to reform themselves:

Get rid of the ‘payroll vote’ by dramatically reducing the size of government, the cabinet, double MPs salaries to improve their calibre and increase their independence. Abolish the House of Lords and set up a professional second revising chamber appointed by an independent commission.

None of this will ever happen so, instead, a system of proportional representation is required. First past the post has run its course.

Oh, and remove parliament from the ‘Palace of Westminster’.

They deserve a modern building of utilitarian design.

10
-1
transmissionofflame
transmissionofflame
1 year ago
Reply to  Monro

“They deserve a modern building of utilitarian design.”

Totally agree. I believe the very large warehouse style building that was once occupied by Staples, the office supplies firm, in that fine place called Stevenage New Town, is empty. Stevenage has great transport links by road and rail, affordable (for the Southeast) housing, great shopping. What more could they wish for?

16
0
Grim Ace
Grim Ace
1 year ago

The British parliamentary system was invented by aristocrats as a way of governing in an aristocratic way. Aristocrats went up against other aristocrats and were elected by people with money or property. As the pressure came on for reform of the voting system (otherwise revolution might ensue), they had to modify it to suit this new, wider franchise. So we still have an aristocratic system that is well past its sell by date perhaps. We also need to be done with the Norman feudalism that is the Royal family. The sovereign still owns everything – you hold the deeds to your house ‘freehold’ (free to hold unless the sovereign decides otherwise). So we are all still serfs working within a Norman invaders rule set.
I suggest PR for MPs, and only 150 of them. An elected revising chamber also of only about 100 members. And perhaps keep the royals but with no powers to approve any legislation whatsoever
Also we should have referendums for all legislation. The people would be the final approvers of laws. The MPs and revising chamber would only advise us. Also that way there would probably be a strong brake on too much legislation because it would take longer to enact because of the delay caused by waiting for referenda approval.

Last edited 1 year ago by Grim Ace
11
0
Jackthegripper
Jackthegripper
1 year ago

The UK is over £2trillion in debt and November’s debt interest payment was over £7billion so around £80nillion a year, give or take a few billion!
With our levels of debt and ever-increasing public sector, taxes cannot be cut without increasing taxes elsewhere.
So the question for every politician to answer is – What services will you cut to make savings?
A few ideas to get the ball rolling:
Turn the NHS in to a social insurance model and introduce competition
Scrap the Climate Change Act and Net-Zero
Reduce the Civil Service, Johnson promised to get rid of 90,000 of these leaches.
Scrap the public sector pension scheme and replace with a defined contribution scheme
Fulfil the “bonfire of the quangos” the Tories promised to carry out

15
0
RTSC
RTSC
1 year ago

Socialists always run out of other people’s money.

1997-2009, it was the Red Socialists who did it.

2009-2024, the Blue Socialists have done it.

Now it seems, it’s to be the Red Socialists turn again.

Unless a miracle happens and we get REFORM.

0
0

NEWSLETTER

View today’s newsletter

To receive our latest news in the form of a daily email, enter your details here:

DONATE

PODCAST

Episode 36 of the Sceptic: Karl Williams on Starmer’s Phoney Immigration Crackdown, Dan Hitchens on the Assisted Suicide Bill and Tom Jones on Reform’s Local Council Challenge

by Richard Eldred
16 May 2025
0

LISTED ARTICLES

  • Most Read
  • Most Commented
  • Editor’s Picks

Chinese ‘Kill Switches’ Found in US Solar Farms

15 May 2025
by Will Jones

News Round-Up

16 May 2025
by Richard Eldred

Spy Agency Report on the Alleged “Extremism” of AfD Turns Out to Be So Stupid That it Destroys all Momentum for Banning the Party

16 May 2025
by Eugyppius

The Folly of Solar – a Dot on the Horizon Versus a Blight on the Land

16 May 2025
by Ben Pile

Civil Servants Threaten to Strike Over Trans Ban in Women’s Lavatories

16 May 2025
by Will Jones

The Folly of Solar – a Dot on the Horizon Versus a Blight on the Land

29

Civil Servants Threaten to Strike Over Trans Ban in Women’s Lavatories

26

Spy Agency Report on the Alleged “Extremism” of AfD Turns Out to Be So Stupid That it Destroys all Momentum for Banning the Party

19

News Round-Up

18

Chinese ‘Kill Switches’ Found in US Solar Farms

27

Trump’s Lesson in Remedial Education

16 May 2025
by Dr James Allan

Spy Agency Report on the Alleged “Extremism” of AfD Turns Out to Be So Stupid That it Destroys all Momentum for Banning the Party

16 May 2025
by Eugyppius

The Folly of Solar – a Dot on the Horizon Versus a Blight on the Land

16 May 2025
by Ben Pile

Renaud Camus on the Destruction of Western Education

15 May 2025
by Dr Nicholas Tate

‘Why Can’t We Talk About This?’

15 May 2025
by Richard Eldred

POSTS BY DATE

June 2024
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
« May   Jul »

SOCIAL LINKS

Free Speech Union
  • Home
  • About us
  • Donate
  • Privacy Policy

Facebook

  • X

Instagram

RSS

Subscribe to our newsletter

© Skeptics Ltd.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Articles
  • About
  • Archive
    • ARCHIVE
    • NEWS ROUND-UPS
  • Podcasts
  • Newsletter
  • Premium
  • Donate
  • Log In

© Skeptics Ltd.

wpDiscuz
You are going to send email to

Move Comment
Perfecty
Do you wish to receive notifications of new articles?
Notifications preferences