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Oil giant BP to exit the solar sector as numbers fail to add up
Recharge ^ | December 20 2011 | Andrew Lee

Posted on 12/20/2011 11:46:59 AM PST by thackney

Oil giant BP is preparing to exit the solar industry entirely.

BP is preparing to wind down its BP Solar unit and sell-off the stakes it has in various projects around the world.

A document announcing the decision to the 100 employees who will be affected says changes in the solar industry have left BP unable to achieve sufficient margins in the sector.

It says the decision is made with regret after a “near 40-year commitment to solar energy”.

A BP spokesman confirms the move and says that over the last six months "regrettably we have come to the decision that we can't make solar viable for BP".

The spokesman says BP will engage with its various solar partners around the world and would aim to exit projects "in a way that leaves them viable".

The UK group had already pulled back from module manufacturing to concentrate on project development.

In July it shut its factory in Maryland, US, ending a process that saw some 460 US jobs cut over two years.

It had earlier axed manufacturing capacity in Spain.

In an interview with Recharge last autumn, Katrina Landis, chief executive of BP Alternative Energy said: “The Chinese have effectively commoditised manufacturing of PV panels. You simply cannot compete with China’s ability to produce PV panels that have the quality required to satisfy Western customers.”

BP’s interests in other clean-energy sectors, prominently wind and biofuels, are unaffected, says the spokesman.


TOPICS: News/Current Events
KEYWORDS: bp; energy; gas; oil; solar
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1 posted on 12/20/2011 11:47:06 AM PST by thackney
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To: thackney

duh


2 posted on 12/20/2011 11:49:03 AM PST by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: thackney

Imagine that.


3 posted on 12/20/2011 11:50:22 AM PST by mylife (The Roar Of The Masses Could Be Farts)
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To: thackney

Of course. The nature can take care of itself. Pollution is overrated, scared tactics anyway.

See how “devastated” the gulf is now?


4 posted on 12/20/2011 11:51:00 AM PST by sagar
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To: thackney

Exiting a boondoggle.


5 posted on 12/20/2011 11:51:14 AM PST by headstamp 2 (Time to move forward not to the center.)
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To: thackney

Beginning of the end for solar.


6 posted on 12/20/2011 11:51:22 AM PST by buffaloguy
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To: thackney

Did we cut solar subsidies to BP? That alone could do it.


7 posted on 12/20/2011 11:52:25 AM PST by DBrow
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To: thackney

But, but,....


8 posted on 12/20/2011 11:53:23 AM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it. (plagiarized))
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To: thackney

I’m stunned by this unexpected outcome.


9 posted on 12/20/2011 11:54:10 AM PST by Vendome (Don't take life so seriously, you won't live through it anyway)
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To: thackney

BP trying to kill the polar bears and melt the glaciers screams coming from MSNBC in 3...2...1


10 posted on 12/20/2011 11:58:48 AM PST by matt04
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To: thackney

The enviroloonies’ “alternative energy” thing doesn’t seem to be working out.


11 posted on 12/20/2011 11:59:26 AM PST by FlingWingFlyer (Stop BIG Government Greed Now!!!!)
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To: thackney

In other news, BP, “Beyond Petroleum”, is changing its name to BTP, and hence, “Back To Petroleum”.


12 posted on 12/20/2011 11:59:31 AM PST by Calvin Locke
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To: thackney

Any idea as to how many millions (billions?) of dollars in Green Subsidies BP accepted (and presumably flushed down the hole) from the US and others (BP is a *British* corporation, with strong ties to the EU) before packing it in??


13 posted on 12/20/2011 12:01:01 PM PST by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: Vendome

I worked at Solar Power Corporation of America in 1982. It was a subsidiary of Exxon. The only reason it existed was to make the panels for the AramCo pipeline.


14 posted on 12/20/2011 12:01:14 PM PST by massgopguy (I owe everything to George Bailey)
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To: thackney
commoditised- no dictionary results

I guess they mean to commodify or make a commodity of solar. Not difficult where people will work for peanuts.

If BP had been in favor with The Administration they would have been showered with cash to support their solar whatever.

15 posted on 12/20/2011 12:01:56 PM PST by oyez
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To: thackney

So they have seen the error in their ways.


16 posted on 12/20/2011 12:02:16 PM PST by TribalPrincess2U (VOTE 'ECONOMIC FREEDOM'! NO more 0bamao!)
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To: DBrow

I don’t think the US has yet, but some other countries have begun to see the light.

http://www.google.com/search?q=solar+subsidies+cut&rls=com.microsoft:en-us&ie=UTF-8&oe=UTF-8&startIndex=&startPage=1#q=solar+subsidies+cut&hl=en&rls=com.microsoft:en-us&prmd=imvnsu&source=lnms&tbm=nws&ei=VufwToupAubQ2wW0seWqAg&sa=X&oi=mode_link&ct=mode&cd=5&ved=0CBcQ_AUoBA&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=c9a5e542d2eadacb&biw=1680&bih=861


17 posted on 12/20/2011 12:02:40 PM PST by thackney (life is fragile, handle with prayer)
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To: thackney

Solar power is great for watches and calculators, but not so much for anything that needs reliable and consistent oomph.


18 posted on 12/20/2011 12:03:24 PM PST by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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To: thackney

where do the greenie weinies go from here? Do they claim we didn’t spend enough money?
Perhaps, perpetual motion?


19 posted on 12/20/2011 12:05:06 PM PST by Leep
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To: thackney
"BP’s interests in other clean-energy sectors, prominently wind and biofuels, are unaffected, says the spokesman."

In other words the subsidy money hasn't dried up completely in these areas yet...

20 posted on 12/20/2011 12:05:57 PM PST by Abathar (Proudly posting without reading the article carefully since 2004)
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To: thackney
BP’s interests in other clean-energy sectors, prominently wind and biofuels, are unaffected until our next announcement, says the spokesman.
21 posted on 12/20/2011 12:06:02 PM PST by NewHampshireDuo
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To: Leep

greenie weenies that is..:)


22 posted on 12/20/2011 12:06:24 PM PST by Leep
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To: headstamp 2

anyone keeping track of that ,what was it 20 billion they gave Obama ?


23 posted on 12/20/2011 12:10:25 PM PST by molson209
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To: Leep

Perpetual motion subsidies are another 15 or so years off after we produce another generation of dumbed down cattle.


24 posted on 12/20/2011 12:11:15 PM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
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To: sagar
See how “devastated” the gulf is now?

I won't soon forget all the gloom and doom forecasts from the Obama people about the BP oil spill. According to them it was Katrina squared.

So I was a little surprised to see an upbeat TV commercial touting 2011 as the biggest and most profitable tourist season the Gulf states have ever experienced. It shows a bunch of happy people eating, playing music, dancing and getting ready for an even bigger tourist season in 2012.

Guess who the sponsor is? BP, of course. I nearly fell out of my chair laughing when I noticed that.

25 posted on 12/20/2011 12:14:12 PM PST by Bernard Marx
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To: thackney
Wait...wait! You mean that they're really not “Beyond Petroleum”?
26 posted on 12/20/2011 12:15:57 PM PST by mojito
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To: Doogle

Duh.
+++++++
Darn. Beat me to it. Freepers are really fast. They just get it.


27 posted on 12/20/2011 12:18:15 PM PST by InterceptPoint (TIN)
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To: FlingWingFlyer

The solar industry hasn’t found its Wright brothers yet. Like the electric car. Each lacks the technological breakthrough that would make it feasible economically.


28 posted on 12/20/2011 12:21:54 PM PST by RobbyS
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To: FlingWingFlyer

The solar industry hasn’t found its Wright brothers yet. Like the electric car. Each lacks the technological breakthrough that would make it feasible economically.


29 posted on 12/20/2011 12:22:00 PM PST by RobbyS
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To: thackney
That's a real knee slapper!

I remember all the hoopla when the helios logo replaced the old shield trademark , in about 2002.


Now dealing solely in fossilized solar power.

30 posted on 12/20/2011 12:23:24 PM PST by cynwoody
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To: mojito

Peak oil just got pushed back decades. This has been happening regularly since 1920. The more we find out about geology, the more oil we find. And the odd things is that we still don’t know how the stuff is produced. The Earth may be producing it as we sit.


31 posted on 12/20/2011 12:27:39 PM PST by RobbyS
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To: thackney

Solar is currently entirely dependent upon government subsidies to break even. The EU is bankrupt. Given a choice between eliminating subsidies for solar and laying off government employees, solar will lose. BP is just seeing reality here.


32 posted on 12/20/2011 12:28:31 PM PST by PapaBear3625 (During times of universal deceit, telling the truth becomes a revolutionary act.)
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To: RobbyS
And the odd things is that we still don’t know how the stuff is produced.

Perhaps you don't know how it is produced. But Petroleum Geologist know why you only explore traps in sedimentary basins and wells drilled elsewhere are only dry holes.

33 posted on 12/20/2011 12:31:10 PM PST by thackney (life is fragile, handle with prayer)
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To: thackney

Poor PC oil company with their flowery logo.

I guess smoozing with the leftists doesn’t pay off?


34 posted on 12/20/2011 12:32:17 PM PST by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: thackney

But we don’t know how the oil in those places is formed. One thing is sure. If the East Texas field was found by accident, that proves that yesterday geology is yesterday’s geology.


35 posted on 12/20/2011 12:34:54 PM PST by RobbyS
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To: RobbyS
we still don’t know how the stuff is produced. The Earth may be producing it as we sit.

I think it's plankton:

Sun-> ocean-> photosynthesis-> seabed slime-> tons of pressure-> oil

ie: The ocean is a giant oil production machine. Oceans cover 71% of the Earth.

36 posted on 12/20/2011 12:35:26 PM PST by ROCKLOBSTER ( Celebrate Republicans Freed the Slaves Month.)
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To: RobbyS
But we don’t know how the oil in those places is formed.

No, you may not but other do.

Start here.

http://www.eia.gov/energyexplained/index.cfm?page=oil_home

If the East Texas field was found by accident

The East Texas oil field is a stratigraphic trap in the Eagle Ford-Woodbine group of the Cretaceous sedimentary layer. Because of the known geology in the area they continued to search that area for years even after the first attempts did not find oil.

37 posted on 12/20/2011 12:44:31 PM PST by thackney (life is fragile, handle with prayer)
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To: trebb
A lot of the Coast Guard’s lighted buoys charge their batteries off solar panels all day for night use. They work great but the dang sea gulls reduce the cells efficiency over time.
38 posted on 12/20/2011 12:48:18 PM PST by dblshot (Insanity: electing the same people over and over and expecting different results.)
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To: dblshot
A lot of the Coast Guard’s lighted buoys charge their batteries off solar panels all day for night use. They work great but the dang sea gulls reduce the cells efficiency over time.

I guess I was too narrow with the watches/calculators reference. I also notice a number of pedestrian/traffic signs that juice up in the sun so they can flash at night - I wonder what the cost is when they add the solar panel and circuitry vs just leaving a non-flashing sign. The niche of utility is there, but it's not a do-all as the greenies try to persuade us it can be - maybe someday.

39 posted on 12/20/2011 12:54:04 PM PST by trebb ("If a man will not work, he should not eat" From 2 Thes 3)
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To: thackney

Except they weren’t searching. The facts you relate are ex post facto. Meaning: if you know you have stumped your toe after you stump your toe. . None of the Shell geologists had a clue of what they were dealing with until the independents started poking hole sin the ground. Ironically, they knew more about the deep formations they are now exploring than that did the sands in which oil was. Had been drilling in the La fields of course and the East Texas field lay to the west off the map. Anyway, a better place to look at is the appalachian fields, with their proximity to other “fossil” deposits. The deeper these fields get, the more one wonders how the deposits got there.


40 posted on 12/20/2011 1:01:30 PM PST by RobbyS
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To: cynwoody
bp = brontosaurus petroleum
41 posted on 12/20/2011 1:10:09 PM PST by who_would_fardels_bear
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To: thackney
changes in the solar industry...

Like the Climategate conspiracy email dump, since any profitability in the "alternative energy" biz were dependent on trumped up public fear and "green" government subsidies like the Solyndra scandal.
42 posted on 12/20/2011 1:15:34 PM PST by SpaceBar
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To: thackney
Oil giant BP to exit the solar sector as numbers fail to add up

Meanwhile, we the American taxpayers are heavily invested in solar, and we can't get out until we get the libs out of Washington.

43 posted on 12/20/2011 1:17:04 PM PST by wayoverontheright
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To: RobbyS
Except they weren’t searching.

I don't know why you think that. Searching for oil in East Texas goes back to the Civil War time period. Oil Springs was named after the oil forming on the water indians had used far before that.

Boynton from the Gulf Production Company brought together people in Rusk county to search for oil in 1911. Columbus Marion “Dad” Joiner drilled a couple wells without success before his historic well produced. I don't know why you consider this by accident.

The deeper these fields get, the more one wonders how the deposits got there.

You do understand don't you that these deep layers are still sedimentary layers? And the beneath sedimentary layers, regardless of how deep or shallow, oil and gas has not been found.

44 posted on 12/20/2011 1:26:37 PM PST by thackney (life is fragile, handle with prayer)
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To: thackney
BP’s interests in other clean-energy sectors,

The BP, VP, in charge of bio-thermal methane gas, refined from the extremely pure unicorn shit, said that this business segment was going to become their most profitable division.

The VP of BP said they need to find a male and a female unicorn, get them to breed, and begin the centuries long project of collecting enough raw material required for commercial production.

He felt there was a better chance of the unicorn methane division reaching profitability before any of the other eco-friendly divisions, i,e, wind generation and hamster powered merry go rounds.

The VP from BP said that they will maintain it's oil and natural gas business as a fall back position until these enviro-friendly businesses reach the top of Jack's Bean Stalk.

45 posted on 12/20/2011 1:31:43 PM PST by USS Alaska (Merry Christmas-Nuke The Terrorist Savages)
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To: RobbyS
I recommend for your reading:

THE HISTORY OF THE EAST TEXAS OIL FIELD
http://www.texasranger.org/E-Books/History_of_the_East_Texas_Oil_Field_(Silvey).pdf

This was the Master Thesis of Lucile Beard written in 1938, when the discovery of the field was still relatively current but the production had grown immense. Martial law was declared, overruled and the politics and economics became quite a mess.

46 posted on 12/20/2011 1:33:11 PM PST by thackney (life is fragile, handle with prayer)
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To: thackney; Ernest_at_the_Beach
Perhaps Ernest has already seen this one.
Thanks T.
47 posted on 12/20/2011 1:59:32 PM PST by Marine_Uncle (Honor must be earned.)
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To: thackney

Good. Nice to know someone in that company has half a brain.


48 posted on 12/20/2011 2:03:41 PM PST by Recovering_Democrat
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To: cynwoody
At risk of exposing my age

I remember the "Dino" guy.

49 posted on 12/20/2011 2:09:17 PM PST by oyez
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To: Marine_Uncle

They knew solar was a loser years ago. They went along with it to look good and gobbled up write-offs.


50 posted on 12/20/2011 2:14:15 PM PST by AGreatPer (Obama has NEVER given a speech where he did not lie!!!)
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