BP Axes Its Solar Power, Alt-Energy Businesses

"BP has taken the axe to its solar power business, saying it 'can't make any money' from selling panels at a time when it continues to spend $20bn annually on oil and gas developments."

"The energy group, which once promised to move 'beyond petroleum', was an important player in solar but has over the last three years gradually closed its panel factories and made around 1,750 workers redundant.

At the same time, the company has gradually retreated from other areas such as carbon capture and storage and shut down its separate London headquarters for BP Alternative Energy."

Terry Macalister reports for the Guardian December 21, 2011.

SEE ALSO:


"BP Tries To Shield Itself From Having To Pay Punitive Damages Rig Partner Halliburton May Face" (AP)

Source: Guardian, 12/23/2011