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  "documentTitle": "BP plc (BP)",
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  "authorName": "Giuseppe Bivona and Marco Taricco",
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  "presentationDate": "2023-10-04 00:00:00",
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      "text": "In the pursuit of a knowingly unattainable energy goal (see § 2), BP is positioning itself to curtail supply, thus being unable to meet the demand for oil and gas needed to adequately support an orderly ecological transition which, most likely will not be completed by 2050.",
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      "text": "As mentioned earlier, BP intends to invest approximately one-third of its capex in lower carbon activities in the medium term, while US majors (ExxonMobil and Chevron) have planned to invest around 10%.",
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      "text": "In 2020, the average annual per capita energy supply for about 40 percent of the world's population (3.1 billion people) was no higher than the rate achieved in both Germany and France in 1860.",
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      "text": "In the pursuit of a knowingly unattainable energy goal, BP is positioning itself to curtail supply, thus being unable to meet the demand for oil and gas needed to adequately support an orderly ecological transition.",
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      "text": "By reducing investments in oil and gas, the delivered reality is that BP is contributing to the woes of a sector which is severely underinvested, with BCG noting that current productive assets will not meet 2030 demand and beyond.",
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      "kind": "quote",
      "text": "prolonged high prices would result if the decline in fossil fuel investment in this scenario were to precede the expansion of clean energy",
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      "text": "prolonged high prices would result if the decline in fossil fuel investment in this scenario were to precede the expansion of clean energy — IEA Executive Director; far from guaranteed — IEA Executive Director",
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      "text": "41 BCG, 42 Financial Times, 43 Prof. Vaclav Smil",
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