EU, US oil giants take diverging paths on climate

When BP recently unveiled a strategic makeover for an era of rising alarm over climate change, environmentalists were on guard for greenwashing by a global oil titan.

But BP’s announcement that it would increase its renewable energy assets tenfold – and slash oil and gas output by up to 40% over a decade – gave even its sternest critics reason to cheer. Greenpeace, which in February picketed BP’s London offices with solar panels and oil barrels to protest its climate policy, called it a “credible and encouraging start.”

The British company is one of several European oil and gas companies that have pledged to achieve net-zero carbon emissions by 2050. They are racing to embrace renewable sources of energy for a future of smart grids, electric cars, and digital commerce.

That zeal isn’t

In Europe, a “survival strategy”Cutting the emissions, keeping the oil“Been there, done that”