BP's Large BioFuels Investment
In an exception to most of the rest of the oil companies, BP seems to stand alone. Today, they are expected to announce a $500 million investment in biofuels research (NY Times - requires free registration) over the next 10 years.
Last year, BP announced an $8 billion committment, to develop a new business called BP Alternative energy.
These expenditures represent a very small percentage of BP's total yearly capital spending program, it does illustrate some basic financial knowledge put in practice, if not outright foresight - diversification is important. And, again, if others would follow BP's lead, they'd find a market ready for them that can take them far beyond where their current business model will take them.
posted by Gary @ 11:18 AM
3 comments
3 Comments:
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