Replies to post #87687 on Mohacsy's Safe Portfolio Member Forum

[santafe2]

Lost in the history of the solar energy business are the three main benefactors of that industry. The the 1950s the space program brought solar panels down under a $1,000 a watt. Oil company research that starting as early as the 1960s brought solar down under $100 a watt and finally California pot growers began using solar to hide their fields from the Feds and their demand brought solar costs down under $10 a watt.

When I began working in the solar industry in the early 2000s two of our suppliers were BP Solar, (their tag line was: Beyond Petroleum), and Shell. Both shuttered or sold off those subsidiaries in following years as Asian manufacturers began making less expensive and more reliable panels.

As the world continues to shift to renewable energy only the best oil companies will thrive. I'm not sure BP was ever an excellent company but ever since Deepwater Horizon they've been damaged goods.

[Elroy Jetson]

BP leaving the oil business has led a rally in oil and gas stocks. Production capacity has to be reduced, so Chesapeake's bankruptcy helped a little, and BP helps more.


The destruction of BP was former CEO Lord John Browne, Baron of Madingley who fired more than half of BP's engineering staff to save money, deciding BP would make more money "doing deals".

In this purge BP lost their institutional memory for the oil and gas business which directly led to the "Deepwater Horizon" disaster as they made bizarre cost-cutting decisions, such as directing Halliburton to use a small fraction of the positioners required while drilling, and God knows Halliburton has no institutional memory, morals or desire to do anything other than what the customer directs them to do.

[cgavin5]

For the last few years in Woodbridge NJ BP had a solar production facility next to it's office tower. Presaged this move perhaps ?