Word: bp
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...BP: Well, it really depends on how you define the Jem character. Jem was very good—I would say she was probably a lot more self-sacrificing than I am. I feel like I’m a good person, but I don’t have an orphanage, and I don’t devote a huge part of my time to a cause outside myself...
...value on the services nature provides, such as water supply and climate control, nor has it accurately measured the costs of the damage industry can do to the environment. But putting a larger price tag on pollution can quickly alter behavior. Anticipating the global movement to combat climate change, BP, the British oil giant, decided in 1997 to reduce its carbon emissions to 10% below 1990 levels by the year 2010. To reach that goal, the company let each of its units trade the right to emit specified amounts of carbon (a system similar to one that...
...manufacturers, led by Sharp and Kyocera, have moved aggressively into photovoltaic cells, which turn sunlight into electricity. And in April General Electric snapped up Enron Wind from the bankrupt energy giant. "We are on a journey to a lower-carbon world," says Graham Baxter, an executive at Britain's BP, which is building a $100 million solar plant in Spain...
...Aside from the questionable use of the word "artificial" when it comes to companies selling their own products, Levin has a point - corporate names like BP-Amoco, ChevronTexaco and ExxonMobil demonstrate well enough the industry's recent wave of consolidation. But as Levin targets the brief but headline-making pump-price spikes of spring 2000 and summer 2001 and calls for antitrust action against the industry, he forgets how the got on this merger kick in the first place: the rock-bottom oil prices of 1999. Disappearing profits induced Exxon and Mobil to join forces in search of a vertically...
...that the cyclical nature of the energy business has just this quarter turned around and bitten the entire industry on the rump. With the suffering global economy keeping prices down all winter, first-quarter earnings season has hardly been a great one for BP (profits down 57 percent year-over-year), ChevronTexaco (down 70 percent), Conoco (down 84 percent) or ExxonMobil (down 58 percent). And the oft-quoted Marathon Oil? Net income in Q1 2002 was down 87 percent from 2001, due primarily to - as was the case for all of the above - reduced profit margins for refined crude products...