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Daily Caller

BP Dumping Key Green Energy Business

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From the Daily Caller News Foundation

By Owen Klinsky

 

European energy company BP has announced plans to sell its U.S. onshore wind business as it aims to concentrate on its core oil and gas business and improve investor sentiment, according to the Financial Times.

BP, along with its rival Shell, has looked to scale back on green initiatives over the past few years, rejecting further cuts to oil production in June 2023. Now, the company is looking to sell its roughly $2 billion U.S. onshore wind portfolio, which consists of stakes in ten operating wind farms and has a total net generating capacity of 1.3 gigawatts, the FT reported.

“We believe the business is likely to be of greater value for another owner,” William Lin, BP’s executive vice president for gas & low carbon energy, told Bloomberg. “This planned divestment is part of our strategy of continuing to simplify our portfolio and focus on value.”

The move comes as BP’s share price sits near a two-year low, and as the company is in the process of “shifting capital away from transition themes and back to the core business,” Biraj Borkhataria, head of European energy research at RBC Europe Ltd XYZ, told Bloomberg. It also comes as the U.S. onshore wind industry has struggled more broadly as installations have slowed due to elevated interest rates and permitting challenges, with BloombergNEF lowering its projections for new onshore wind by 22% through 2030.

BP’s offshore wind (OSW) efforts have also run into challenges, with the company writing down the value of its OSW  portfolio by $1.1 billion last year, and the company’s former renewables chief, Anja-Isabel Dotzenrath, telling the FT, “offshore wind in the US is fundamentally broken.”

BP’s competitor Shell has also pivoted away from a renewables transition in recent years, with its CEO Wael Sawan  describing cutting oil production as “dangerous and irresponsible.”

“I disagree with him, respectfully,” Sawan said in July 2023 in reference to UN Secretary General Antonio Guterrdaes’ comment that new oil and gas investments are “economic and moral madness.” “What would be dangerous and irresponsible is actually cutting out oil and gas production so that the cost of living, as we saw last year, starts to shoot up again.”

The onset of the Russia-Ukraine war in Feb. 2022 drove energy prices skywards, with gas surpassing $5 a gallon in June 2022, up from roughly $1.80 in April 2020, according to the Federal Reserve Bank of St. Louis.

BP did not immediately respond to a request for comment.

Daily Caller

Trump Dresses Down The Davos Globalists

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From the Daily Caller News Foundation

By David Blackmon

Organizers and attendees at this week’s annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, had to have been shocked at the new tone from the United States after four years of subservient obeisance from Joe Biden and his ineffective emissaries. In a wide-ranging speech via videoconference on Thursday, President Donald Trump essentially blew up the liberal world order consensus as it relates to the climate alarm agenda.

After putting the conference on notice that the United States would again become a sovereign nation with secure borders, Trump then turned to climate and energy policy. “I terminated the ridiculous and incredibly wasteful Green New Deal – I call it the Green New scam,” Trump began, “withdrew from the one-sided Paris climate Accord and ended the insane and costly electric vehicle mandate. We’re going to let people buy the car they want to buy.”

It was an opening salvo that flew directly in the face of remarks made earlier in the week by the likes of European Commission leader Ursula Von Der Leyen, John Kerry, Al Gore, UN Secretary General Antonio Guterres and many others. But Trump was far from done.

“I declared a national energy emergency to unlock the liquid gold under our feet and pave the way for rapid approvals of new energy infrastructure,” he informed the conference, adding, “The United States has the largest amount of oil and gas of any country on earth, and we’re going to use it.”

The message was crystal clear: The age of America conforming its energy and climate policies to fit the strictures of the liberal world order as formulated at international climate conferences organized by the WEF and the United Nations is over, at least for the next four years and possibly beyond that. It should be obvious to everyone by now that Trump intends to completely reverse the Biden Green New Deal agenda and implement policies designed to return the U.S. to the position of what he calls “energy dominance” achieved during Trump’s first presidency.

The net-zero fantasy goal has gone completely off the rails over the last two years as both the ESG and DEI philosophies fell into disrepute. The fading of those interrelated leftwing religions led major energy companies and the banking community alike to place heavier focus on mounting and financing major energy projects designed to enhance energy and national security.

Energy reality was already making a comeback before Trump emerged triumphant in the 2024 election. Despite these and other emerging realities, the WEF’s old guard came to Davos armed with the same old rhetoric.

Sec. Gen. Guterres, always eager to engage in laughable hyperbole, labeled the oil industry a “Frankenstein monster sparing nothing and no one” as it sows what he calls “climate chaos.”

Von Der Leyen’s bombast was no less absurd: “Heat waves across Asia. Floods from Brazil to Indonesia, from Africa to Europe, wildfires in Canada, Greece and California, hurricanes in the US and the Caribbean. Climate change is still on top of the global agenda,” she warned, sounding for all the world like Bill Murray and his fellow “Ghostbusters” in the famous “dogs and cats living together – mass hysteria!” scene from the 1984 film.

Kerry was somewhat more muted, likely due to the fact that he no longer holds any official role in representing U.S. interests. Gore essentially mailed it in, delivering virtually the same hyperbole-filled remarks he spewed to the 2024 conference.

But a pair of participants in a panel discussion held Wednesday were much more realistic.

Graham Allison, a professor at the Harvard Kennedy School, warned his audience not to underestimate the new president. “Trump has done something no person in the world has ever done before,” he said, adding, “A dead man, a dead politician has risen. This is the greatest comeback in political history of a politician.”

Longtime political columnist Walter Russel Mead added, “We need to also factor in not only who’s won, which is Trump, but who’s lost. Which is to say, us.”

He isn’t wrong, and the elitists who make up the liberal world order would do well to pay attention. Whether they like it or not, their world has changed.

David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.

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Daily Caller

Immigration actions, deportation flights begin

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The White House says deportation flights have begun. In Illinois, the Pritzker administration is conducting a “know-your-rights” campaign for foreign nationals in the country illegally.

At an unrelated event Friday, Illinois Gov. J.B. Pritzker said they’re working across state agencies to promote the “know-your-rights” campaign.

“Making sure people know what they should do if an agent shows up and asks them for a proof of citizenship and a proof of residency,” Pritzker said.

He’s not aware of the Trump administration communicating with state agencies, Pritzker said.

“And so it’s a challenge, but we’re communicating with all of our agencies and making sure that again ‘know your rights’ is really what we’re trying to communicate to all the parents,” Pritzker said.

The governor reiterated that he thinks violent criminal illegal immigrants should be deported but continued to vow protection for those living mostly law-abiding lives in Illinois. As for possibly running afoul of federal law, Pritzker said he’s not scared.

“I’m unafraid,” Pritzker said. “I know what my job is. I’m going to protect the people of Illinois, I’m gonna do what’s right. I’m going to make sure that [Trump] is following the law, that the federal government is following the law, and that we’re following the law.”

At an unrelated event in Oak Law, Illinois, Friday, Gov. J.B. Pritzker takes questions about immigration enforcement actions taking place and his administration’s “know your rights” campaign for undocumented immigrants living in Illinois.

Speaking remotely to the World Economic Forum Thursday, President Donald Trump said his administration is bringing a “revolution of common sense.”

“My administration is acting with unprecedented speed to fix the disasters we’ve inherited from a totally inept group of people,” Trump said, referring to the administration of his predecessor, Joe Biden.

Under the Biden administration, millions of non-citizens crossed the southern U.S. border. More than 50,000 of them were transported from overburdened border communities to Chicago with migrant sanctuary policies in place.

Under the Trump administration, which took office Jan. 20, Immigration and Customs Enforcement announced within the first three days that they made more than 530 arrests and lodged 373 detainers.

Friday morning, the White House said deportation flights have begun.

“President Trump is sending a strong and clear message to the entire world: if you illegally enter the United States of America, you will face severe consequences,” White House Press Secretary Karoline Leavitt wrote on X.

Illinois U.S. Rep. Mary Miller, R-Hindsboro, said “Every illegal alien in the United States must be deported.”

“Americans deserve to be safe in our country,” Miller said.

She posted on social media a message thanking Trump and his border czar, Tom Homan, “for taking immediate action to secure our communities from violent foreign criminals.”

ICE says on its website the agency’s Enforcement and Removal Operations workforce consists of more than 7,700 law enforcement and non-law enforcement support personnel across 25 domestic field offices and 208 locations nationwide, 30 overseas postings and multiple temporary duty travel assignments along the border.

“Members of the public who have information about foreign fugitives are urged to contact ICE by calling the ICE Tip Line at 1 (866) 347-2423 or internationally at 001-1802-872-6199,” the agency said. “They can also file a tip online by completing ICE’s online tip form.”

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