John Browne’s 1997 Stanford University Speech: The “Beyond Petroleum” Beginning (and beginning of the end of BP?)By Robert Bradley Jr. -- June 19, 2010 22 Comments
“Stephen H. Schneider, a climate researcher and Stanford professor who wrote the first popular book on global warming, said [that Browne’s] speech was a welcome change of direction for an industry that has, until now, denied that global warming is a problem. ‘They’re out of climate denial,’ Schneider said.”
– Quoted in Glennda Chui, “BP Official Takes Global Warming Seriously,” San Jose Mercury News, May 20, 1997, sec. A. 20.
Then BP CEO John Browne’s speech at Stanford University in May 1997 marked the beginning of the company’s “green” (or to critics, greenwashing) approach to product differentiation and corporate governance. Left environmentalists applauded heartily–and would continue to do so until the Deepwater Horizon accident of April 2010.
Browne’s speech began by begging the question and proceeded to a non sequitur.…
Shell’s van Beurden Shames Oil and GasBy Robert Bradley Jr. -- September 8, 2020 1 Comment
“If we believe that somehow the market is going to take care of this, that you put a price on carbon and everything will sort itself out, or that we can shame companies into doing it, then I think we’re kidding ourselves. This needs a very significant interventionist approach and all industries have to be part of the intervention.”
– Ben van Beurden, CEO, Royal Dutch Shell. Quoted in Akshat Rathi and Laura Hurst, “Look Who’s Talking About Zero Emissions.” (Bloomberg: June 9, 2020)
Enron’s Ken Lay. BP’s John Browne. Duke Energy’s James E. Rogers. T. Boone Pickens. GE’s Jeff Immelt. And now Shell’s Ben van Beurden.
Welcome to the swamp of political correctness when industry leaders morph into apologists for mineral energies and endorse open-ended government intervention for forced energy transformation from dense, reliable energies to dilute, intermittent ones.…
GE: Contra-Capitalism’s Toll (lightbulb unit sold)By Robert Bradley Jr. -- June 15, 2020 5 Comments
“In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner.” (Jeff Immelt, GE 2008 Annual Report, quoted here)
“What else can be said about how a destructive management philosophy–long warned against by classical liberals–drove a once iconic American company into the bog? Contra-capitalism destroys wealth, not only capitalism.” (below)
A May 27, 2020, piece at EnergyWire (E&E News) reported the latest of how errant leadership, political correctness, and cronyism diminished a once proud, iconic company.
“General Electric Co. cut one of the last remaining links to founder Thomas Edison, as the beleaguered manufacturer wrapped up a three-year process to sell its iconic lightbulb business,” reported Rick Clough. The buyer was the automated ‘smart home’ firm Savant Systems Inc.…
Lee Raymond, JP Morgan Win Climate Proxy VotesBy Robert Bradley Jr. -- May 26, 2020 1 Comment
“[Lee Raymond] is a leader among leaders. He’s always encouraged and considered a range of views and opinions on a multitude of issues … including climate change.” – Jamie Dimon, CEO, JPMorgan.
Climate activists got beat in proxy voting at JPMorgan’s recent annual meeting, a good result for investors and employees, as well as consumers and the general economy. The climate will not notice either.
The activists failed to oust JPMorgan’s lead independent director Lee Raymond, longtime head of Exxon Mobil Corp., who never bought into renewables or climate alarmism. Maybe the activists want a different thinker with industry experience such as BP’s John Browne (father of that company’s environmental problems). Ken Lay was the antithesis to Raymond too.
Raymond was Right
Regarding renewables as mass substitutes to mineral energies, Raymond knew decades ago what Michael Moore, Jeff Gibbs, et al.…