Loughborough renewable expert critical of BP decision to focus on oil and gas production

Outside a BP building on a sunny day

A Loughborough University academic has criticised BP’s decision to increase investment into oil and gas whilst cutting funding for renewable energy.

The energy company announced its strategy change this week with investors unhappy with profits and share price.

In a passionate response to the news, Dr Richard Blanchard, academic lead for Energy and Sustainability at the University’s Centre for Renewable Energy Systems Technology (CREST) said, despite the obvious need for clean energy, the move was illogical but unsurprising: “There is a clear understanding that emissions from fossil fuels are fostering global warming. Yet, it was only a matter of time that BP and others reverted to type and moved away from any pretence of trying to be green – abandoning the Paris Climate agreement and banning clean energy research activities.

“BP once rebranded itself as Beyond Petroleum but now, with the decision to move back towards finite resources such as oil and gas, has shortened its existence in the same way it shortens climate stability with greenhouse gas emissions.

“The science demonstrates we are off course for limiting global warming to under 3C by the end of the century.  We have already reached the 1.5C guard rail temperature rise that the Paris Agreement said we should not pass but, despite this, BP is not alone in ramping up oil production.

“It is clear that fossil fuels have advanced humanity beyond the realms of what could have been achieved but the cost is a warming planet. Since the dawn of civilisation 5000 years ago, humans have largely lived in the same climatic niches because the temperature, rainfall and soils, of these areas allowed us to grow crops and raise animals. There is a reason our main population base is away from desert regions and a warmer planet will lead to widespread population movement and instability.

“This really is a battle between private profits and the survival of a planet that we can inhabit."