Why did BP quit the solar industry and what will that decision mean? We asked two leading commentators for their analysis.
This first post is by Charlie Kronick, senior climate advisor at Greenpeace UK
Many have noted BP’s decision to move out of solar energy after dabbling for 40 years. When everyone from Google to Warren Buffet to Trans Canada (the company trying to build the KeystoneXL pipeline) is moving into solar energy, BP has decided to wind down that portion of its business.
Why? The global reputation of the company is battered, in the wake of selling off a dangerous and unprofitable refinery business in the US (including Texas City refinery, where an explosion killed 15 and injured 170 in 2005); the catastrophic Deepwater Horizon accident; and the finally abortive attempt to tie up with Rosneft in the Russian Arctic in 2010. Why would BP finally jettison one of its nominally more attractive assets? Continue reading










