BP Makes Case For Shift to Gas

摘要

With investors increasingly pressuring the majors to be more up-front about the risks posed to their fossil fuel assets by efforts to combat climate change, BP will from next year start publishing such information annually. And as it positions itself to compete in a lower carbon world, the UK major is — like its industry peers — making gas a bigger part of its portfolio. BP still sees fossil fuels as a huge part of the energy mix, and is hoping to capi-talize on a shift from coal to gas as a cleaner-burning power generation fuel as governments look to cut emissions. "We want to push for a transition from coal to gas," Chairman Carl-Henric Svanberg told the recent AGM in London. "This reduces emissions to half and will buy critical time over the next decades as renewables mature." Chief Executive Bob Dudley echoed the theme at last week's IHS CeraWeek conference in Houston. "The sheer size of the world economy and its complexity mean it cannot be simplified by a shift to renewables quickly," he said. "There's no doubt it will go in that direction, but it will take time." He pointed out that most people think over 20% of global energy is already supplied by renewables, but the "real answer is 3%."