Name: BP makes billion-dollar offshore wind play
Brand: axios.com
SKU: axios-com-303
Availability: OnlineOnly

critic

BP makes billion-dollar offshore wind play

preview

Photo: Lance King/Getty ImagesBP is making its first move into offshore wind via a new deal and partnership with Norway-based Equinor, which is developing big U.S. projects.Driving the news: BP is paying Equinor $1.1 billion for a 50% stake in wind farms Equinor is developing off the coasts of New York and Massachusetts. The oil-and-gas companies — which are both making more moves into renewables — also announced a "strategic partnership" to jointly pursue other U.S. offshore projects.Why it matters: It's a sign of BP's pledge to speed up its diversification into low-carbon technologies and shrink its fossil fuel business — which currently dominates its portfolio — over the long term.The big picture: The move also shows interest in the fledgling U.S. offshore wind market, which has been very slow to develop (there's just one small project in operation) but is now attracting lots of capital.It would be easy to feel some whiplash over recent Trump administration moves on oil-and-gas industry access — or lack thereof — to areas currently off-limits.Driving the news: Trump used a Tuesday stop in Florida — a swing state with a huge electoral vote bounty —&nbsp;to that keeps the eastern Gulf of Mexico off-limits through 2032.Joe Biden plans to attend the 9/11 Memorial and Museum’s 19th anniversary commemoration ceremony in New York City on Friday morning, his campaign said in a press release. Driving the news: He and President Trump will honor the anniversary of the Sept. 11 terrorist attacks at the Flight 93 National Memorial in Shanksville, Pennsylvania, later on Friday. Their paths are not expected to cross, Axios' Margaret Talev reports. Global: Total confirmed cases as of 7 p.m. ET: — Total deaths: —&nbsp;Total recoveries: — U.S.: Total confirmed cases as of 7 p.m. ET: — Total deaths: — Total recoveries: — Total tests: — Politics: Trump: because "he knew they were good and proper answers."Health: not seen, CDC official says — by year-end, despite trial pause.Business: OSHA for 'failing to protect employees' — Data shows than jobs report projected.Environment: The caused by the pandemic is just about over.Media: TIME ."

Photo: Lance King/Getty ImagesBP is making its first move into offshore wind via a new deal and partnership with Norway-based Equinor, which is developing big U.S. projects.Driving the news: BP is paying Equinor $1.1 billion for a 50% stake in wind farms Equinor is developing off the coasts of New York and Massachusetts. The oil-and-gas companies — which are both making more moves into renewables — also announced a "strategic partnership" to jointly pursue other U.S. offshore projects.Why it matters: It's a sign of BP's pledge to speed up its diversification into low-carbon technologies and...

public

Energy reporter w/@Axios. Former stops incl. National Journal, The Hill, E&E, Boston Phoenix (RIP). I tweet about running too. Tips/feedback: ben@axios.com

Ben Geman

Smart Brevity worthy of people's time, attention and trust. Subscribe to our newsletters: https://bit.ly/3hMCmVn

axios.com

Credible

Speculation

Anecdotal Evidence

Generalization

Stacking the Deck

Appeal to Authority

Straw Man

Slippery Slope

Emotional Appeal

Red Herring

False Dilemma

Illogical

Moral Equivalency

Ad Hominem

Correlation w/o Causation

Semantics

Begging the Question

Faulty Analogy

Non Sequitur

Bandwagon

Dogmatism

Failing Occam's Razor

Biased

Pure Opinion

Hit Piece

Racial Bias

National Bias

Religious Bias

Financial Incentive

Political Agenda

Gender Bias

Misused Image/Video

Study Misinterpreted

Mistake

Misused Term

Science Misrepresented

Factual Error

Satire

Surface Level

Lack of Reliable Sources

Sensational

Not Credible

Investigative

Balanced

Well Sourced

Great Context

sports

entertainment

U.S.

international

business

technology

science

culture

politics

media

health

BP makes billion-dollar offshore wind play

No article scores yet.

CRITIC REVIEWS

PUBLIC REVIEWS