Word: amoco
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...direction for BRITISH PETROLEUM. BP now limits its greenhouse-gas emissions and has invested $1 billion in solar-energy technology, becoming the world's largest photovoltaic manufacturer. At the same time, he has taken BP from near obscurity to the world's No. 3 oil company, buying competitors like Amoco and inspiring other execs to copy his formula for blending environmentalism and strong earnings...
...paper, the New York Times almost helpfully put another story atop its business section. "Some Energy Executives Urge U.S. Shift on Global Warming," went the headline, and the gist of the story was that the same energy companies casually vilified as Bush?s corrupters by poll respondents - BP Amoco, Enron, Royal Dutch/Shell - have actually begun making major moves to reduce greenhouse-gas emissions on their own. And they?re wondering when Bush is going to catch...
...Amoco, the second-largest oil company in the U.S., is the world's largest manufacturer of solar panels. Wind farms are starting to sprout up - there's even one in Texas. Despite all of Bush and Cheney's much-criticized permissiveness when it comes to toxic power like coal and nukes, the long-term future they've laid out is cleaner than the one we've got: goosing, through reduced regulation, the natural-gas slice of the energy pie - it's now 15 percent - and letting the market for energy do the rest...
...mode since the late '90s. And relative prices are still lower than they were in the '60s. That's not to say refinery profit margins haven't increased handsomely from the supply squeeze. Operating profits have surged this year at refiners like Valero and big oil companies like BP Amoco and ExxonMobil. "Refiners have made a killing over the past 15-to-18 months," says Chris Stavros, an oil-industry analyst at UBS Warburg. Stavros points out that the suppliers aren't gouging; they are simply reaping the benefits of market economics swinging their...
...doesn't apologize for his Big Energy investors. "Hey, they bought into us - we didn't buy into them." Kelly likes working with BP Amoco's plugged-in trading desk, and happily points out that the oil giant is also the world's biggest retailer of solar panels...