BP plays secret hardball on the world stage. They threatened total withdrawal from the EU if green energy initiatives weren't scuttled, and the EU folded.
The EU abandoned or weakened key proposals for new environmental protections after receiving a letter from a top BP executive which warned of an exodus of the oil industry from Europe if the proposals went ahead.
In the 10-page letter, the company predicted in 2013 that a mass industry flight would result if laws to regulate tar sands, cut power plant pollution and accelerate the uptake of renewable energy were passed, because of the extra costs and red tape they allegedly entailed.
The measures “threaten to drive energy-intensive industries, such as refining and petrochemicals, to relocate outside the EU... [emphasis mine]
I'm wondering if a similar tactic was behind the US legislator "drafting error" scuttling agreed upon green tax credits.
Legislators agreed to an extension of tax credits for geothermal, small wind, fuel cells, and combined heat and power in the large omnibus spending deal passed last year, but the provisions were left out due to a “drafting error.” [emphasis mine]
Does iot surprise anyone that they have to bully there way to stay relevant?
"I'm wondering if a similar tactic was behind the US legislator "drafting error" scuttling agreed upon green tax credits." When there are two possibilities and only one is plausible, I generally go with that one. This is much more consistent with past behavior than the excuse given.
When John D. Rockefeller built himself an oil monopoly (in the late 1800s?), the government was able to break up his Standard Oil Company.
Is the EU strong enough to break up BP?
I think widespread reporting of this tactic, along with UN negotiation, would be necessary for nation states, even collectively, to break up corporations that step over this line. If BP were threatened by breakup in the country in which they're incorporated without global coordinated action, they'd just switch to a more compliant nation. It's a systemic problem, not amenable to "local" solution at this stage. In other words we need a Bernie Sanders style revolution globally to reign them in.
One problem is that many countries, including those with UN veto power like Russia, are Petro states. They'd resist to the death.
It's time that all articles of incorporation prevent "too big to fail" and "so big I can bully anyone".
The governments want to play it both ways. It's socially popular to attack the oil business, but if the oil business left, these countries would collapse and wind up as 18th century hell holes. So this sham goes back and forth. The politicians act tough, but reality is a bitch.
If we switch to green energy within decades, as we must anyway, "if the oil business left, these countries would collapse" goes away.
I am getting fed up with fossil fuel industry's blackmails. I'm sicker still of climate deniers buying into the lies.