Oil Giant BP Banks On Bikes, Plug-In Cars And Fuel-Free Forecourts To Go Carbon Zero

BP’s new boss Bernard Looney said on February 12 that he wants the oil giant to pivot away from petroleum. By doing so the 111-year-old company could get to net zero carbon emissions by 2050, predicted Looney.

The company needs to “reinvent” itself, he said in a speech, a week after taking over as chief executive.

“The world’s carbon budget is finite and running out fast; we need a rapid transition to net zero,” said Looney.

“Trillions of dollars will need to be invested in re-plumbing and rewiring the world’s energy system.”