Connect with us
[the_ad id="89560"]

Daily Caller

BP Dumping Key Green Energy Business

Published

3 minute read

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.

Business

Tariffs by Tuesday: Trump Says There Is ‘No Room Left’ For Any Negotiations On Postponing Tariffs On Mexico, Canada

Published on

 

From the Daily Caller News Foundation

By Nicole Silverio

President Donald Trump said Monday that there is “no room left” for any negotiations on postponing tariffs on Mexico, Canada or China in response to their handling of the immigration and fentanyl crisis.

Trump initially planned to impose 25% tariffs on Mexico and Canada and a 10% tariff on China over its role in allowing illegal immigration and fentanyl to pour into the U.S. in record numbers. After postponing these tariffs for a month after Mexico and Canada caved to his requests, the president said he has fully made up his mind to officially impose these tariffs this upcoming Tuesday.

“No room left for Mexico or for Canada. No, the tariffs [are] all set, they go into effect tomorrow,” Trump said. “And just so you understand, vast amounts of fentanyl have poured into our country from Mexico and as you know, also from China where it goes to Mexico and goes to Canada and China also had an additional 10 [percent], so it’s 10 + 10, and it comes in from Canada and it comes in from Mexico and that’s a very important thing to say.”

Dear Readers:

As a nonprofit, we are dependent on the generosity of our readers.

Please consider making a small donation of any amount here. Thank you!

WATCH:

Trump postponed the tariffs on Feb. 3 after Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau caved to his requests by increasing their efforts to tackle illegal immigration and fentanyl. Sheinbaum deployed 10,000 National Guard soldiers to the U.S.-Mexico border while Trudeau invested $1.3 billion to crackdown on illegal migration and appointed a “Fentanyl Czar” to oversee a $200 million effort against the drug.

The president announced in a Feb. 27 Truth Social post that he planned to double the tariffs on China to 20% and move forward with the tariffs on Mexico and Canada over the “very high and unacceptable levels” of drugs pouring into the U.S.

“We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled,” Trump said. “China will likewise be charged an additional 10% Tariff on that date. The April Second Reciprocal Tariff date will remain in full force and effect. Thank you for your attention to this matter. GOD BLESS AMERICA!”

These three countries are being slapped with tariffs as the U.S. suffers a fentanyl epidemic, with over 21,000 pounds of the deadly drug being seized at the southern border in the fiscal year 2024, according to Customs and Border Protection (CBP). Border agents have seized over 5,400 pounds in the 2025 fiscal year thus far.

At the U.S.-Canadian border, officials encountered over 11,000 pounds of drugs in the 2024 fiscal year and over 3,200 pounds have so far been seized in the 2025 fiscal year, according to CBP data. Over 60,000 pounds and 55,000 pounds of drugs were seized in the 2022 and 2023 fiscal years.

U.S. border officials also encountered over 8.5 million migrants at the southern border during the four fiscal years of former President Joe Biden’s administration. Border crossings at the northern border skyrocketed with over 198,000 encounters and nearly 19,000 arrests occurring in the 2024 fiscal year.

Continue Reading

Daily Caller

Trump Could Upend Every Facet Of The Obama-Biden Climate Agenda In One Fell Swoop

Published on

 

From the Daily Caller News Foundation

By

Every week in this second Donald Trump presidency is such a whirlwind of major events that it is always a challenge to pick a topic for the next contribution here at the Daily Caller News Foundation.

But, despite this having been one of the most frenzied weeks of all since Jan. 20, picking the topic for this column was easy, because no energy-related action by this administration would have a bigger impact on American society than a successful effort to reverse the Obama EPA’s 2009 endangerment finding on greenhouse gas regulation.

The Washington Post reported Wednesday that Environmental Protection Agency (EPA) Administrator Lee Zeldin “has privately urged the White House to strike down a scientific finding underpinning much of the federal government’s push to combat climate change, according to three people briefed on the matter who spoke on the condition of anonymity because they were not authorized to comment publicly.” Zeldin’s recommendation was a response to Trump’s Day 1 executive order tasking Zeldin to conduct a review of “the legality and continuing applicability of the Administrator’s findings, ‘Endangerment and Cause or Contribute Findings for Greenhouse Gases Under Section 202(a) of the Clean Air Act,” Final Rule, 74 FR 66496 (December 15, 2009).’”

Dear Readers:
As a nonprofit, we are dependent on the generosity of our readers.

Please consider making a small donation of any amount here.

Thank you!

The Obama EPA’s finding was enabled by the 2007 5-4 ruling by the Supreme Court in the Massachusetts v. EPA case allowing the agency to regulate greenhouse gases as pollutants in the context of the Clean Air Act. In that case, Justice Anthony Kennedy, who long served as the swing vote on the Court, joined with four liberal justices to give EPA this authority.

Given that the main so-called “greenhouse gases” — water vapor, methane and carbon dioxide — are all naturally occurring elements, a ruling classifying them as “pollutants” as that term was intended by the authors of the Clean Air Act in 1963 was absurd on its face, but that didn’t stop the five justices from imposing their political will on U.S. society.

Since implemented by the Obama EPA, the endangerment finding has served as the foundational basis for the vast expansion of climate change regulations impacting every nook and cranny of the U.S. economy, dramatically increasing the cost of energy for all Americans. The climate alarm hysteria over carbon dioxide, otherwise known as plant food and the basis for all life in Planet Earth, was also the motivational basis for every aspect of the Biden-era efforts to force taxpayers to bear the cost of hundreds of billions of dollars in renewable energy subsidies.

So, what has changed between 2007 and today to make Administrator Zeldin and President Trump think their attempt to reverse this endangerment finding would survive all the court challenges that would arise from the climate alarm community?

First, there is the dramatic shift in the makeup of the Supreme Court. Justice Kennedy is no longer on the court, nor are the other four justices who issued the majority decision in Massachusetts v. EPA. Where the Court was evenly divided in 2007, today’s Supreme Court is made up of a decisive 6-3 originalist majority with three justices appointed by Donald Trump himself during his first presidency.

But an even more decisive difference now stems from last year’s reversal of the Chevron Deference by the Supreme Court in the Loper Bright Enterprises v. Raimondo case. As I wrote here at the time, the Chevron Deference, established as a legal doctrine in a unanimous Supreme Court decision in 1984, required the federal judiciary to defer to the regulators’ judgments about the governing statutes whenever the statutory intent was vague and open to interpretation.

That doctrine of law led directly to the vast expansion of the regulatory state for the 40 years it was in effect. The question now becomes whether, in the absence of that doctrine, regulators at the EPA truly have the authority to regulate atmospheric plant food in the same way they regulate particulate matter and other forms of real air pollution.

A successful effort to reverse the Obama EPA endangerment finding would then put every element of the Obama/Biden climate agenda in jeopardy.

Mr. Trump likes to say he wants to bring common sense back to government. This is one big way to do exactly that.

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.

Continue Reading

Trending

X