Daily Caller
BP Dumping Key Green Energy Business
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.
Daily Caller
FEMA Doled Out Millions Pushing ‘Equity,’ Prioritizing ‘Underserved Communities’ Leading Up To Hurricane Season
From the Daily Caller News Foundation
The Federal Emergency Management Agency (FEMA) in May 2023 launched a $12 million grant program designed to increase “equity” in disaster responses by making greater investments in communities with high concentrations of racial and sexual minorities, documents show.
FEMA’s 2023 Regional Catastrophic Preparedness Grant Program sought to disburse multi-million dollar grants designed to bolster disaster preparedness “equity” for what it called “underserved communities,” a label later defined in grant documents as “populations sharing a particular characteristic, as well as geographic communities, who have been systematically denied a full opportunity to participate in aspects of economic, social and civic life.” Examples of these groups cited in the FEMA documents include African Americans, Hispanics, Middle Easterners, LGBT people and people living in rural areas, among others.
“LGBTQIA people, and people who have been disadvantaged, already are struggling,” FEMA emergency management specialist Tyler Atkins said in a leaked Zoom recording that surfaced on Sunday. “They already have their own things to deal with. So, you add a disaster on top of that, it’s just compounding on itself.”
Maggie Jarry, an emergency management specialist at the Department of Health and Human Services, responded to Atkins by stressing that emergency management is moving away from providing “the greatest good to the greatest amount of people” and working towards “disaster equity.”
FEMA Disaster Preparedness Meeting:
"We should focus our efforts on LGBTQIA people… they struggled before the storm"
"FEMA relief is no longer about getting the greatest good for the greatest amount of people…. It's about disaster equity." pic.twitter.com/IqXeKI8OTT
— End Wokeness (@EndWokeness) October 7, 2024
Black and gay people disproportionately live in areas where the effects of climate change, alongside poor infrastructure and a lack of resources, make natural disasters more dangerous, according to the FEMA documents. The agency used this position to argue that investments in these communities are needed to “effectively address equity in emergency management.”
FEMA instructed entities applying for grant funding under the program to use the Biden-Harris administration’s Climate and Economic Justice Screening Tool (CEJST) to identify disadvantaged communities where they would spend their federal grant dollars.
CEJST provides users with a map of every county the federal government considers “underserved” for the purposes of federal grantmaking. Many of the counties hit hardest by Hurricane Helene in western North Carolina and northern Georgia were made ineligible for funding through this program as a result of CEJST’s designations.
Hurricane Helene had left 227 people dead as of Saturday and damages caused by the storm could reach as high as $35 billion, according to estimates from the reinsurance company Gallagher Re. North Carolinians have received $27 million in individual assistance approved by FEMA, The Associated Press reported.
Entities that requested FEMA grant funding had their applications evaluated based on whether or not they selected communities labeled as “underserved” by CEJST as well as the degree to which they centered equity in their proposal.
“To advance considerations of equity in awarding RCPGP grant funding, FEMA will add additional points to the scores of projects that will benefit disadvantaged communities,” the grant document reads.
“We are expecting another hurricane hitting,” Homeland Security Secretary Alejandro Mayorkas said on Wednesday “FEMA does not have the funds to make it through the season.”
FEMA’s shortfall in funding comes after the agency spent nearly $1 billion on migrant assistance programs in the 2023 and 2024 fiscal years.
Hurricane Milton is a Category 5 storm on track to hit the Florida Gulf Coast on Wednesday, CNN reported. Florida is still recovering from Helene.
FEMA did not respond to the Daily Caller News Foundation’s request for comment.
Business
Elon Musk Warns Harris Will Try To Shut Down X ‘By Any Means Possible’ If Elected
From the Daily Caller News Foundation
Tesla CEO and X owner Elon Musk said Vice President Kamala Harris will launch “lawfare” in an effort to shut down X “by any means possible” if she wins the 2024 presidential election.
Musk sat down for a two-hour interview with former Fox News host Tucker Carlson, a co-founder of the Daily Caller and Daily Caller News Foundation, released on Monday. Musk said that should Harris win the presidency, he anticipated that he and his companies would face legal action.
“If she wins, how can they let X continue in its current form, in its current role in American society?” Carlson asked Musk about the future of the social network if Harris wins the presidency.
“They won’t,” Musk responded. “They will try to shut it down by any means possible.”
WATCH:
Former Secretary of State Hillary Clinton called for Americans to be “criminally charged” for spreading what she viewed as disinformation during a Sept. 17 interview with MSNBC host Rachel Maddow, and warned that a lack of censorship was causing a loss of “total control” in a Saturday interview with CNN host Mike Smerconish.
Carlson asked Musk to explain what he meant when he said a Harris administration would use “any means possible” to shut down X.
“They might try to pass laws,” Musk said. “They’ll try to prosecute the company, prosecute me. The amount of lawfare we’ve seen taking place is outrageous.”
Musk noted the Biden administration had sued SpaceX for failing to hire asylum seekers
“I mean… the Department of Justice, for example, launched a huge lawsuit against SpaceX for failing to hire asylum seekers,” Musk continued as Carlson expressed shock. “Not those granted asylum, but asylum seekers. Now, there’s also a law called International Traffic in Arms Regulations that because SpaceX develops advancements in technology that can be used in nuclear ICBMs… we have to be careful who we hire. We can only hire a permanent resident or a citizen.”
The Justice Department announced the suit against SpaceX in August 2023, claiming the company “discouraged asylees and refugees from applying to the company” in legal documents. The Equal Employment Opportunity Commission (EEOC) sued Tesla in September 20203. claiming black employees faced harassment and threats, including nooses.
The Biden administration launched other investigations and lawsuits into companies Musk is tied to, including Tesla, since he purchased Twitter in 2022. Musk predicted a dirty tricks campaign in May 2022, as his purchase of Twitter was in progress.
Musk has been an outspoken supporter of former President Donald Trump’s bid to return to the White House, funding America PAC, speaking at Trump’s Saturday rally at Butler, Pennsylvania, at the site of an attempted assassination of the former president and donating to efforts to elected House GOP candidates.
Harris did not immediately respond to a request for comment from the Daily Caller News Foundation.
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