BP and others are scrapping renewable energy projects and increasing oil & gas production because they made a few less BILLION in profits last year. All while temperature records keep being smashed and extreme weather becomes more frequent. Now is not the time for more oil & gas. - ThreadSky

greenparty.org.uk • 11 days ago

BP and others are scrapping renewable energy projects and increasing oil & gas production because they made a few less BILLION in profits last year.

All while temperature records keep being smashed and extreme weather becomes more frequent.

Now is not the time for more oil & gas.

Comments

ruthibrandt.bsky.social•11 days ago

And Labour are contemplating giving them new licences...

comrade-faggotron.bsky.social•11 days ago

Of course but please don't forget that it's Scotland's oil

southteesgreens.bsky.social•10 days ago

That's true but the advice still stands if you want a livable planet for your grandchildren.

mikebrady.bsky.social•11 days ago

This is the defining moment in human history.

We need to fight the right battles. ⬇️

bedfordterrier.bsky.social•11 days ago

BP beyond petroleum my arse

hedgehogcycling.bsky.social•11 days ago

It does seem to be the case that returns from fossil fuel projects are higher than for renewables. Any ideas how to change that?

rowdy-hurrell.bsky.social•11 days ago

Stop subsidising fossil fuels would be a start.

hedgehogcycling.bsky.social•11 days ago

This article says fossil fuel projects have return rate of 20-50%, while renewables return 5-10% https://www.npr.org/2023/12/11/1217802769/oil-prices-exxon-mobil-green-energy-solar-wind-cop28-climate-talks
I wonder how you go about changing that. Tax maybe?

rowdy-hurrell.bsky.social•11 days ago

I wonder if that 20-50% factors in the subsidies
https://www.imf.org/en/Topics/climate-change/energy-subsidies

rowdy-hurrell.bsky.social•11 days ago

Although reading more of that, it is factoring costs like health impact as implicit subsidy.

ronsteenblik.bsky.social•11 days ago

And the IMF attributes those externalities to the consumption side of the ledger. It’s not just health costs but also what the IMF calls “vehicle externalities” — traffic congestion and accidents. It allocates these to gasoline and diesel fuel, but those externalities would be just as large if all …

southteesgreens.bsky.social•10 days ago

Put pressure on whatever organisations you can to divest from fossi fuel investments and write to your MP to ask for fossil fuel subsidies to be dropped is a good start.

hedgehogcycling.bsky.social•9 days ago

Yes they are good ideas. I would still like to better understand the fundamental reasons why companies are making so much money from fossil fuels.

avalonmarshes.bsky.social•11 days ago

Profit before the survival of mankind.
The most evil of attitudes.

skyeboat.bsky.social•11 days ago

Climate and Net Zero is a scam.

southteesgreens.bsky.social•10 days ago

The science all disagrees with you. The oil companies deliberately promote the 'scam' idea so they can keep making profit at the expense of future generations wellbeing.

skyeboat.bsky.social•9 days ago

What a ludicrous response. The oil companies do no such thing.
The only science you are listen to and read are those scientists who are in the ppckets of corrupt politicians If they don't "fudge" the results no funding.

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