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Daily Caller

BP Dumping Key Green Energy Business

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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.

conflict

The West Is Playing With Fire In Ukraine

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National Security Communications Adviser John Kirby

From the Daily Caller News Foundation 

By Morgan Murphy

As wars tend to do, the battle over Ukraine continues to escalate.

It was reported this week that North Korean soldiers in the conflict total 10,000 thus far and that Russia has rewarded Pyongyang by sending its excellent air defense systems to the Korean Peninsula in exchange.

Last month, the National Security Council spokesman, John Kirby, warned that any North Korean troops fighting in the conflict would be, “fair game and fair targets.”

His green light delivered this week when “a high-ranking North Korean military officer [became] a casualty” according to a Wall Street Journal story on Thursday. That strike was allegedly conducted with British Storm Shadow missiles.

Just these recent events further entangle the U.S., U.K., North Korea, South Korea, and China within the Russia-Ukraine conflict.

But the week’s biggest Ukraine news rattled many Americans — the Biden administration authorized Ukraine to strike targets within Russia with the American-made Army Tactical Missile System (ATACMS).

“The missiles will speak for themselves,” Ukrainian President Volodymyr Zelenskyy boasted.

They sure will. First of all, the U.S. doesn’t have many of the $1.3 million missiles to lob around. U.S. Indo-Pacific Command Commander Admiral Samuel Paparo warned an audience at the Brookings Institute this week that the conflicts in the Middle East and Ukraine are “now eating into stocks … and to say otherwise would be dishonest.”

I’ve met and been briefed by Admiral Paparo, who is one of the most positive and straight-talking flag officers in our military. If he is publicly ringing the warning bell, U.S. policy leaders should take heed.

Putin did not take the news of the ATACMS well. In response, he announced the use of a hypersonic ballistic missile on Thursday, carefully noting that it didn’t carry a nuclear warhead. The unspoken part: next time, it might.

What’s the goal in Biden’s escalation? It seems the White House is trying to prevent the inevitable or blame Trump for Ukraine’s upcoming defeat.

What they won’t admit is that the metrics of the war are not in Ukraine’s favor, and frankly never have been. No supersonic missile will change the immutable: Russia boasts a population five times Ukraine’s and when it comes to war materiel, Russia is winning. Despite Biden’s attempt to hobble the Russian economy, Putin’s war industry is outproducing the West by three times in the basic munitions needed to prosecute a land battle.

But aren’t Russians dying en mass on the battlefield?

Western leaders keep touting Russia’s high death toll, which estimates now place at 600,000. To military strategists here in the United States, such a human cost is unimaginable. Add up every American combat death going back 160 years through the Gulf Wars, Afghanistan, Vietnam, Korea, World War II, World War I, and even the Union combat deaths in the Civil War, and the number does’t reach what Russia has lost in the past 1,000 days.

American and NATO leaders are foolish to underestimate Russian resolve.

Since its initial blundering and poorly-executed invasion of Ukraine in 2022, Russia has recovered from its mistakes, Russian public support for the war remains high, and the Russian economy hasn’t fallen apart. Putin may have lost the virtue-signaling battle of Ukrainian flag lapel pins, but make no mistake: he’s on a path to win the war.

Biden’s deputy Pentagon press secretary, Sabrina Singh, says don’t worry. On Thursday she told reporters the administration was sending as much American weapons and support to Ukraine as it can muster, “in the weeks and months ahead left of this administration. So, that’s what we’re really focused on.”

What did she make of Putin’s nuclear threat?  “I mean, you know, we’ve seen this type of, you know, dangerous, reckless rhetoric before from President Putin,” Singh said.

“I mean, you know?” No, we don’t know. The world hasn’t seen nuclear threats like this since Harry S. Truman demanded Japan surrender.

For anyone worried about the state of our national security, January 20th can’t come quickly enough.

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Daily Caller

Chinese Agents Can Now Access Every American’s Phone Calls And Texts, GOP Senator Warns

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Republican South Dakota Sen. Mike Rounds warned Friday that China’s state-sponsored hackers, known as Salt Typhoon, have gained the capability to spy on millions of Americans through their mobile phones. (Screenshot/YouTube/HalifaxtheForum)

From the Daily Caller News Foundation 

By Mariane Angela

Republican South Dakota Sen. Mike Rounds warned Friday that China’s state-sponsored hackers, known as Salt Typhoon, have gained the capability to spy on millions of Americans through their mobile phones.

During an event at Halifax The Forum, Rounds revealed that hackers have infiltrated all major U.S. telecommunications firms. Rounds said these hackers have penetrated every major telecom provider in the country. He also said the Chinese Communist government is capable of reading texts and listening to conversations.

“Any one of us and every one of us today is subject to the review by the Chinese Communist government of any cell phone conversation you have with anyone in America. Because they have access to every single one of our major telecommunications companies. They have broken in. They can read your texts, and they can hear your conversations,” Rounds said. “It’s just a matter of who they want to listen to and who they don’t.”

Salt Typhoon, identified as a Chinese hacking group, has infiltrated the networks of AT&T, Verizon, and T-Mobile, and their presence lingers, according to Democratic Virginia Sen. Mark Warner, chair of the Senate Intelligence Committee, The Washington Post reported. Warner called the breach “the worst telecom hack in our nation’s history—by far.”

The breach, ongoing for over a year, affects telecom giants such as AT&T, Verizon, and T-Mobile. Hackers even accessed law enforcement wiretap request logs, revealing investigative targets, though the wiretap system itself remains uncompromised, WaPo said. The breach reportedly targeted communications involving former President Donald Trump, Vice President-elect JD Vance, and White House officials.

Despite intervention from the FBI, the hackers remain embedded in the U.S. telecom infrastructure, according to WaPo. Warner explained that expelling them will require a massive overhaul, including the physical replacement of thousands of routers and switches across affected networks.

“This is an ongoing effort by China to infiltrate telecom systems around the world, to exfiltrate huge amounts of data,” Warner said.

The group exploited outdated infrastructure and inter-network trust, enabling real-time eavesdropping and data exfiltration, the outlet reported. While fewer than 150 individuals were directly targeted, the scope of compromised data extends to millions of associated contacts.

The Biden administration urges stricter cybersecurity measures to counter persistent Chinese aggression.

“We must lock our digital doors,” Deputy National Security Adviser Anne Neuberger said.

National security officials, including Trump appointees, vow heightened focus on combating cyber threats.

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