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BP Dumping Key Green Energy Business

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From the Daily Caller News Foundation

By Owen Klinsky

 

European energy company BP has announced plans to sell its U.S. onshore wind business as it aims to concentrate on its core oil and gas business and improve investor sentiment, according to the Financial Times.

BP, along with its rival Shell, has looked to scale back on green initiatives over the past few years, rejecting further cuts to oil production in June 2023. Now, the company is looking to sell its roughly $2 billion U.S. onshore wind portfolio, which consists of stakes in ten operating wind farms and has a total net generating capacity of 1.3 gigawatts, the FT reported.

“We believe the business is likely to be of greater value for another owner,” William Lin, BP’s executive vice president for gas & low carbon energy, told Bloomberg. “This planned divestment is part of our strategy of continuing to simplify our portfolio and focus on value.”

The move comes as BP’s share price sits near a two-year low, and as the company is in the process of “shifting capital away from transition themes and back to the core business,” Biraj Borkhataria, head of European energy research at RBC Europe Ltd XYZ, told Bloomberg. It also comes as the U.S. onshore wind industry has struggled more broadly as installations have slowed due to elevated interest rates and permitting challenges, with BloombergNEF lowering its projections for new onshore wind by 22% through 2030.

BP’s offshore wind (OSW) efforts have also run into challenges, with the company writing down the value of its OSW  portfolio by $1.1 billion last year, and the company’s former renewables chief, Anja-Isabel Dotzenrath, telling the FT, “offshore wind in the US is fundamentally broken.”

BP’s competitor Shell has also pivoted away from a renewables transition in recent years, with its CEO Wael Sawan  describing cutting oil production as “dangerous and irresponsible.”

“I disagree with him, respectfully,” Sawan said in July 2023 in reference to UN Secretary General Antonio Guterrdaes’ comment that new oil and gas investments are “economic and moral madness.” “What would be dangerous and irresponsible is actually cutting out oil and gas production so that the cost of living, as we saw last year, starts to shoot up again.”

The onset of the Russia-Ukraine war in Feb. 2022 drove energy prices skywards, with gas surpassing $5 a gallon in June 2022, up from roughly $1.80 in April 2020, according to the Federal Reserve Bank of St. Louis.

BP did not immediately respond to a request for comment.

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Daily Caller

There’s A Catch To California’s Rosy Population Stats

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From the Daily Caller News Foundation

By Melissa O’Rourke

California’s population is growing again, but not because Americans are moving in, according to The Wall Street Journal.

In 2024, nearly 240,000 Californians packed up and left the state, WSJ reported. The state’s population still rose by 0.6% overall because more than 361,000 immigrants arrived to take their place.

The exodus from the state is not a new phenomenon, as around 344,000 Californians left in 2023, while 292,000 international migrants arrived, the outlet reported.

About 56% of Californians have considered leaving the state due to the exorbitant cost of living, a 2024 Emerson College poll found. California’s median home price topped $900,000 in 2024 — well over double the national average — while utility and gas prices remain among the country’s highest.

The state’s population decreased for the first time in history in 2020, when over 477,000 Californians left, leading to the state losing a congressional seat. The population continued to decline until 2023, buoyed by an influx of international immigrants.

The H-1B visa program, which allows businesses to employ skilled foreign workers with bachelor’s degrees, brought nearly 79,000 workers to the state in 2024, WSJ reported. However, applications for the program fell by 25% compared to a year ago due to higher fees and expectations that the Trump administration could impose more restrictive immigration policies.

The H-1B visa program has sparked fierce debate among Republicans in recent months. While big names such as Elon Musk and Vivek Ramaswamy have defended the program, opponents have argued it allows companies to undercut American workers by importing cheaper labor from abroad.

In addition to California, many states rely on immigration to drive population growth. In 38 states and Washington, D.C., immigration outpaced domestic migration last year, and in 16 states, it was the only reason populations grew, WSJ reported.

California has the highest share of foreign-born residents in the nation, with more than 25% of its population born outside the U.S., according to the Public Policy Institute of California. As of 2022, about 17% of California’s immigrant population was in the country illegally, according to the Pew Research Center.

At the same time, the Golden State faces mounting challenges, including a $45 billion budget deficit, while programs like Medi-Cal — covering hundreds of thousands of illegal immigrants — are projected to cost taxpayers $8.4 billion in the 2024–2025 fiscal year.

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Watch As Tucker Carlson And Glenn Greenwald Get A Good Laugh Over CNN Pretending Biden’s Decline Is Breaking News

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From the Daily Caller News Foundation

By Hailey Gomez

During a podcast Friday, Daily Caller News Foundation co-founder Tucker Carlson and independent journalist Glenn Greenwald couldn’t stop laughing over CNN’s sudden realization of former President Joe Biden’s mental decline.

CNN’s Jake Tapper along with Axios’ Alex Thompson released their book, “Original Sin,” on May 20, which details Biden’s cognitive slide over the last four years — a concern Republicans had raised even before the 2020 election. While appearing on “The Tucker Carlson Show,” Carlson joked that Greenwald had been “scooped” by CNN on Biden’s mental fitness.

“So you are, I think, the dean of alternative media. You’ve been doing this longer than anybody that I know personally. So it must be a little weird to get scooped by CNN on Joe Biden’s dementia, like you had no idea,” Carlson said. “None of us knew.”

“None of us knew,” Greenwald teased. ” There was that debate, and we were all shocked, but we were told he had a cold. So I was like, ‘OK, he’s on some cold medication. Who hasn’t been there before? It makes you a little dragged, a little groggy, a little just like dragged.’ But no, now Jake Tapper has uncovered the truth. It turns out Joe Biden was in cognitive decline.”

Sources told Tapper and Thompson that Biden’s mental fitness had declined rapidly during his time as president, with his mental state becoming so severe at one point that aides discussed putting him in a wheelchair.

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Tapper has faced pushback from both Democrats and Republicans over the timing of his book and the revelations it includes. The CNN host has long defended the former president.

Carlson went on to joke with Greenwald about how he believed Tapper gathered the material for the book.

“Just a hardcore shoe leather investigative reporting,” Greenwald joked. “He’s working his sources, calling all the people in Washington, digging up FOIA documents.”

“It’s one of those things where you kind of can’t believe what you’re witnessing because Jake Tapper is pretending to have uncovered a scandal that he himself led the way in the media, or one of the leaders in the media, in covering up,” Greenwald added. “To the point where if somebody would go on his show and say ‘Joe Biden is obviously in cognitive decline.’ He would say ‘How dare you bully kids who stutter?’”

Greenwald went on to reference how Tapper had accused President Donald Trump’s daughter-in-law, Lara Trump, of “mocking” the former president over his stutter during a 2020 interview.

Despite Lara Trump pointing to what she believed were signs of Biden’s problems, Tapper dismissed her remarks at the time, saying she had “no standing to diagnose somebody’s cognitive decline.”

In addition to Lara Trump, Tapper also dismissed former Democratic presidential candidate Dean Phillips during a 2024 interview after Phillips expressed his “concerns” about Biden running for a second term.

“Obviously, he wanted Biden to win desperately and would not tolerate anyone going on the show and saying that Biden was in cognitive decline,” Greenwald said. “Now he’s making millions of dollars off a book.”

Following the media coverage of Tapper’s and Thompson’s book, Biden appeared to tell reporters on Friday he could “beat the hell out of” the two journalists.

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