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Further cementing themeselves as “Beyond Petroleum”, BP announced an $8 Billion investment package in renewable energy (from WBCSD). The investment doubles the company’s efforts in the areas of Wind, Solar, Hydrogen and other non-fossil fuel based energy sources.
It’s important to rememeber though, that BP will very much remain primarily an oil and gas company for a long time. The “beyond petroleum” campaign is mostly a highly funded marketing campaign, and a philosophy for the distant future. Still, the steps BP have taken go way beyond those of most other extractive industries and are most definitely worth applauding with both praise and patronage.
