Is BP's Shift for Real?
Just weeks after taking over as CEO of BP, Bernard Looney unveiled a series of climate targets. This isn’t the first time BP has tried to make a push into clean energy and decarbonization -- is this time different? In this week’s episode, we’ll look at the pressures that BP is facing. What does it take for a publicly-owned company to reevaluate its core product? And how do you reduce the carbon intensity of a hydrocarbon business? We’ll dig through the details. Then, natural gas is suddenly in the hot seat. For gas-only utilities, one pathway is clear. They have to push renewable methane. But what are the limitations? And how will the battle over natural gas connections play out? Finally, we’ll talk about another reversal, this time in Virginia. The state legislature is right in the middle of setting some pretty strong goals for offshore wind and storage, and they’ve got a governor who wants to sign it. What caused the politics to turn around so suddenly? Recommended reading:Vox: The False Promise of Renewable Natural GasGTM: Virginia Lawmakers Race to Define Clean Energy Goals, Offshore Wind PlansWSJ: BP Wants to Become Carbon Neutral by 2050, But Doesn’t Say How=This podcast is brought to you by Energetic Insurance. Energetic’s EneRate Credit Cover policy is an easy button for commercial solar — similar to a FICO score in residential solar. This enables savvy developers and investors to quickly finance commercial solar projects and turn around portfolio refinancings more rapidly. Find out more. This podcast is brought to you by KORE Power. KORE Power is a leading manufacturer of high-density, high-voltage energy storage solutions for utility, industrial, microgrids and mission-critical markets. Find out more.