BP to sell wind business

 

BP is putting its wind business on the block, its latest retreat from renewable energy as the company moves to focus on its core oil and gas operations.

The British oil giant has touted the growth of its wind operations in recent years, but is adjusting “as part of a continuing effort to become a more focused oil and gas company and reposition the company for sustainable growth into the future,” said spokesman Matt Hartwig in an emailed statement.

The company has interest in 16 operating wind farms in nine states, including its Sherbino wind farm in West Texas. Just last year, BP brought three new wind farms into operation, completing construction on projects in Kansas, Pennsylvania and Hawaii, and growing its net wind generation capacity by 50 percent.

In total, BP’s wind power investments are capable of generating a combined 2,600 megawatts of power, or enough to feed 780,000 homes, by BP’s calculations. The company also is involved in 2,000 megawatts of wind power projects in development.

In its 2012 annual report, BP said its wind business has created more than 200 jobs.

In 2011, the British oil giant shut down its solar business after more than three decades. At a recent industry conference in Houston, CEO Bob Dudley said, “We’ve thrown in the towel on solar. … We worked on it for 35 years and never made money.”

BP has ethanol production facilities in Brazil and the United Kingdom and biofuel research operations in the United States.

“This is not an exit from alternative energy,” Hartwig said.

source …

 

America: The Next Energy Superpower?

Libtard peak oil and other dodo birds … take note.

From previously challenging the “tyranny of oil,” Obama now finds himself in charge, as leader of a potential oil and gas superpower.

Think what America could be with proper American leadership.

According to BP’s Energy Outlook 2030, unconventional sources will make the United States virtually energy self-sufficient by 2030, largely thanks to the shale gas revolution. You do know you can make petroleum oil from hatural gas? Don’t you know about long chain polymers from high school chemistry. Natural gas has none of the contaimanents as oil, mainly suffer… Obama is not pleased as he tries to maintain American Oil prices at artificially high prices. Right now we are at least double what gasoline should be going for in the USA.

“The U.S. will likely surpass Russia and Saudi Arabia in 2013 as the largest  liquids producer in the world (crude and biofuels) due to tight oil and biofuels growth…. Russia will likely pass Saudi Arabia for the second slot in 2013 and hold that until 2023. Saudi Arabia regains the top oil producer slot by 2027,” the London-based oil and gas giant said.

How can this be … private land drilling for oil.

The U.S. Energy Information Administration (EIA) has forecast that the nation could become a net exporter of liquefied natural gas (LNG) as early as 2016, and a net exporter of total natural gas (including via pipelines) by 2020.

100 year old Fracking, and new horizontal drilling technology

For the Asia-Pacific region, potential U.S. gas exports could undercut higher priced gas from Australia and elsewhere, resulting in lower fuel bills for major importers such as Japan and South Korea.

However, fast-growing China and India are expected to become even more reliant on imports to satisfy domestic demand, BP said in its report.

With the world’s population seen reaching 8.3 billion by 2030 and income doubling in real terms from 2011 levels, BP expects an additional 1.3 billion people will require energy. This will result in global energy demand being 36 percent higher in 2030 compared to 2011, with almost all growth (93 percent) coming from non-OECD economies.

The Asia-Pacific region will produce the most rapid growth in energy production, largely from coal, generating 35 percent of global energy production by 2030.

The report states that unconventional sources such as shale gas, tight oil, heavy oil and biofuels will transform the energy balance of the United States.

“By 2030, increasing production and moderating demand will result in the U.S. being 99 percent self-sufficient in net energy; in 2005 it was only 70 percent self-sufficient,” it said.

Production from unconventional sources will provide all the net growth in global oil supply to 2020, and more than 70 percent of the growth to 2030.

unconventionalsources, meaning corn to fuel, in case the lingo is not understood.

What Peak Oil?

You have heard of the leftists peak oil? The world is running out of oil. In fact Jimmy Carter famously said way back in 1977 the world will be all out of oil by the year 2000. We will have used it all up in our evil giraffe cars. Gone, no more. A subject of future mythology.

How wrong he was. Well you could say he was about as wrong as today’s we’re all going to burn up mythology spinners about global warming the alarmists are.

The data (released by BP a company who have a vested interest in oil scarcity) don’t agree. Proved reserves keep increasing:

In ground proved reserves

The oil in the ground will run out some day. But as the discovery of proven reserves continues to significantly outpace the rate of extraction, the claims that we’re facing immediate shortages looks trashy.

Some may try to cast doubt on these figures, saying that BP are counting inaccessible reserves, and that we must accept that while there are huge quantities of shale oil in the ground, the era of cheap and readily accessible oil is over. They might cite the idea that oil prices are much higher than they were ten years ago. Yet this is mostly a monetary phenomenon resulting from excessive money creation beyond the economy’s productive capacity. Priced in gold, oil is still very cheap — almost as cheap as it has ever been:

Note: Priced on GOLD

Take a close look at the Obama years, see the stability?

The argument that the vast majority of counted reserves are economically inaccessible is fundamentally flawed. In the long run there is only one equation that really matters in determining whether oil is extractable, and that is whether there is a net energy gain; whether energy-in exceeds energy-out. If there’s a net energy gain, it’s feasible.

Certainly, we are moving toward a higher cost of energy extraction. Shale oil (for example) has a lower net energy gain than conventional oil, but still typically produces five times as much energy as is consumed in extraction.

But the Earth’s extractable hydrocarbons will eventually dry up, whether that’s in 500 years or 200 years. If we want humanity to have a long-term future on Earth, we need to move to economically priced renewables; solar, hydroelectric, thorium, synthetic hydrocarbons.

And the market will ensure that, eventually — as the cost of renewable energy continues to fall, more and more of us will adopt it. I don’t buy the myth that markets are stupid — if humanity needs renewable energy (I believe we do) the market will see to it (I believe that is slowly happening). Markets are just the sum of human preferences.

Anybody ever see dinosaurs on Titan, one of Saturn’s moons? If not, then where does the methane(fossil fuel) comes from? Abiotic Oil a Theory Worth Exploring. Another scientific hypothesis bites the dust.

Someone please explain the physics of renewable energy, something that does not exist, expect in the liberals twisted mind.

WOW, This is Just Weird

Finally… 60 SPILLION GALLONS LATER: OBAMA TO MEET WITH BP CHAIRMAN — But, he still won’t meet with the CEO!

This fellow is just downright alien.