Word: bp
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Dates: during 2000-2009
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Some of it, though, is coming back. Big Danish firms such as Vestas are building turbine factories in the U.S. The two largest solar-device manufacturers on American soil are British-owned BP Solar and German-owned Siemens. Ownership may be foreign, but American workers benefit...
...Motors and American Electric Power are also experimenting with carbon trading and clean fuels, they seem at the moment to be motivated more by the threat of boycotts by international environmental groups than by market economics. The interest in renewables on the part of such big oil companies as BP and Shell, on the other hand, "has gone beyond window dressing," says Vince, the British wind-power executive. "They can see the future of energy. For them, it's business." And that may be the best evidence that renewable energy's future has finally come...
...industry is not monolithic. Enron, for example, which has close ties to the Bush administration, is heavily invested in natural gas, and they're member of the Pew Foundation, which means they sign onto the science of global warming and the search for ways of meeting the Kyoto targets. BP has a heavy investment in energy alternatives. There's a lot of support in industry for doing something reasonable to address climate change. Industry is not that reluctant to sign on as long as the playing field is level. It's difficult for Ford...
...BP Amoco, the second-largest oil company in the U.S., is the world's largest manufacturer of solar panels. Wind farms are starting to sprout up - there's even one in Texas. Despite all of Bush and Cheney's much-criticized permissiveness when it comes to toxic power like coal and nukes, the long-term future they've laid out is cleaner than the one we've got: goosing, through reduced regulation, the natural-gas slice of the energy pie - it's now 15 percent - and letting the market for energy do the rest...
...consolidation mode since the late '90s. And relative prices are still lower than they were in the '60s. That's not to say refinery profit margins haven't increased handsomely from the supply squeeze. Operating profits have surged this year at refiners like Valero and big oil companies like BP Amoco and ExxonMobil. "Refiners have made a killing over the past 15-to-18 months," says Chris Stavros, an oil-industry analyst at UBS Warburg. Stavros points out that the suppliers aren't gouging; they are simply reaping the benefits of market economics swinging their...