Posted 5 years ago on Dec. 24, 2011, 6:19 p.m. EST by dcosts
from St Petersburg, FL
This content is user submitted and not an official statement
BP will close the chapter on more than 40 years of history after deciding to shut down its solar business, once regarded as one of its flagship alternative energy divisions.
“The continuing global economic challenges have significantly impacted the solar industry, making it difficult to sustain long-term returns for the company,” wrote Mike Petrucci, chief executive of BP Solar, in an internal email to staff last week.
“Over the last six months we have realised that we simply can’t make any money from solar,” a spokesman confirmed. Why? Because Solar is putting Big Oil out of business!
“It has become a commoditised business. You cannot be a specialist anymore,” he added.
A New Economic Paradigm
The distributed nature of renewable energies necessitates collaborative rather than hierarchical command and control mechanisms. This new lateral energy regime establishes the organizational model for the countless economic activities that multiply from it. A more distributed and collaborative industrial revolution, in turn, invariably leads to a more distributed sharing of the wealth generated.
The oil business is one of the largest industries in the world. It’s also the most costly enterprise for collecting, processing, and distributing energy ever conceived. Virtually all of the other critical industries that emerged from the oil culture and feed off of the fossil fuel spigot — modern finance, automotive, power and utilities, and telecommunications — were, in one way or another, similarly predisposed to bigness in order to achieve their own economies of scale. And, like the oil industry, they require huge sums of capital to operate and are organized in a centralized fashion.
Three of the four largest companies in the world today are oil companies — Royal Dutch Shell, Exxon Mobil, and BP. Underneath these giant energy companies are five hundred global companies representing every sector and industry — with a combined revenue of $22.5 trillion, which is the equivalent of one-third of the world’s $62 trillion GDP — that are inseparably connected to and dependent on fossil fuels for their very survival.