BP's Strategic Reset: Hasta la Vista, Green Dreams?

Judgment Day for BP's Profits?

Listen up people. Sarah Connor here. I've seen the future and it doesn't involve BP leading the charge in renewable energy. Seems like the British oil behemoth just posted a weaker than expected first quarter profit of $1.38 billion. Analysts were expecting $1.6 billion. Missed it by *that* much. Back in my day that's like Skynet missing its kill target by a few million. Not a good look. They're trying to tell us it's a 'great start' after their 'strategic reset'. Yeah right. Tell that to the polar bears. This whole situation reeks of 'There is no fate but what we make for ourselves,' except in this case BP's making a whole lot more oil.

Hasta la Vista Green Plans?

So what's this 'strategic reset' they keep talking about? Turns out BP's decided to slash renewable spending and pump more cash into oil and gas. It's like they looked at the future of electric cars and solar panels and said 'I'll be back... for more fossil fuels!' CEO Murray Auchincloss is all sunshine and rainbows about it boasting about 'highest upstream operating efficiency in history' and refineries running 'at the best they've run in 24 years'. That's great Murray but what about the planet? Are we just supposed to 'Come with me if you want to live'... in a smog filled dystopia?

Activist Investors: The New Resistance?

The green U turn has stirred up the hornets' nest. Activist investor Elliott Management just snagged a 5% stake in BP making them the second largest shareholder. They're probably thinking 'No problemo' when it comes to shaking things up. They're likely planning to pressure BP to double down on oil and gas. It's a shareholder rebellion a fight for the future of the company. Will they succeed? Only time will tell but one thing's for sure: 'The future is not set. There is no fate but what we make for ourselves.'

Shareholder Showdown: The Chair Must Go!

BP even had a shareholder rebellion at their annual meeting. Almost a quarter of investors voted against re electing the outgoing Chair. That's like when the machines started turning on each other – a sign that things are seriously messed up. It shows that even the suits are getting restless with BP's direction. They are starting to realize 'It's in your nature to destroy yourselves.'

Oil Prices: The T 1000 of the Market?

Auchincloss claims that lower oil prices won't derail their reset plans. He says they have a 'balance of products'. Oil natural gas and refined products. Sounds like a recipe for environmental disaster if you ask me. He thinks they are the T 1000 of the market morphing into the prevailing landscape when we need to morph into new landscapes all together.

The Long War: There is No Fate But What We Make

So here we are. BP is doubling down on oil investors are fighting for control and the clock is ticking on climate change. It's a battle for the future just like the one I've been fighting my whole life. 'The future is not set. There is no fate but what we make for ourselves.' We have to keep fighting keep pushing for a better greener future. Otherwise we might as well just hand the planet over to the machines... or the oil companies. And trust me neither one is good news.