Andreas Malm chronicled this in detail in ‘Overshoot’. This is one more brick.
Reposted from Will Mathis
BP’s stock went up 5% today, the most since February, after it announced it’s slashing spending on offshore wind and spinning the business out into a JV.

Investors never rewarded them for going into renewables and now seem to be cheering their retreat

#energysky

www.bloomberg.com/news/article...

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