“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.…

Ed note: The following repost of “BP’s Fall From Grace“(December 2010) by Kevin Mooney is testament to the energy realism of Exxon’s Lee Raymond over the image-over-substance approach of John Browne of BP and Ken Lay of Enron. The lesson is clear: false causes and political correctness result in wasted resources and ecological loss. Part III tomorrow (Part I was yesterday) concludes this week’s tribute to the top integrated oil major leader of his generation.

Once simply called British Petroleum, BP transformed its corporate identity into an international ‘green energy’ company with a sunburst logo and the tag line “Beyond Petroleum.” Environmental groups applauded when BP’s CEO gave credence to alarmist global warming assertions. Little did they know that the company’s rhetorical overtures to green causes deflected attention away from its reckless and irresponsible practices that jeopardized worker health and safety and ultimately resulted in death and devastation in the Gulf of Mexico.…

Ed. Note: Lee R. Raymond died last week at age 87. The top integrated oil leader of his era is featured in three posts this week at MasterResource (Part II; Part III). Past posts on Raymond can be found here.

“[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.

If the bottom line of business is winning for consumers and stockholders, few have matched the accomplishments of Lee Raymond (1938–2026), whose 42 years at Exxon/Exxon-Mobil culminated as CEO from 1993 through 2005. His is a classic case of creating sustainable economic value through talent, focus, and perseverance. Forget what those with termite aspirations toward fossil fuels think.…

Ed. Note: How did a major energy trade association/ lobbying group come to support climate alarm and forced energy transformation, reversing its prior position? The story gets back to an ex-Enron executive who imported Enron’s political capitalism model to the electricity industry, to flip the script.

“Breaking ranks with others in the electric-power industry, [James “Jim” Rogers in 1988] supported legislation putting caps on sulfur-dioxide emissions. ‘Some of my guys thought I was drinking the environmental Kool-Aid,’ he said later. ‘But I said, “Let’s shape this, let’s make some money”.’” (Wall Street Journal, December 20, 2018)

“I made money on sulfur [dioxide], and I’ll make money on carbon [dioxide].” (Bloomberg Businessweek, June 3, 2010)

“The Edison Electric Institute, a trade association representing the electric power industry,” a recent New York Times article stated, “said that if without a federal role in regulating greenhouse gases, states and cities could ‘attempt to fill that perceived void through increased regulatory requirements that could vary significantly from one jurisdiction to the next.’”…