Sell BP

Monday June 18th 2007, 12:15 pm

According to this Wikipedia article:,

BP was named one of the “ten worst corporations” in both 2001 and 2006 based on its environmental and human rights records.[8][9] In 1991 BP was cited as the most polluting company in the US based on EPA toxic release data. Greenpeace International named BP one of Scotland’s two largest polluters in 1992. Since branding itself an environmentally sound corporation in 1997, BP has been charged with burning polluted gases at its Ohio refinery (for which it was fined $1.7 million), and in in July 2000 BP paid a $10 million fine to the EPA for its management of it US refineries. [10]According to PIRG research, between January 1997 and March 1998, BP was responsible for 104 oil spills. [11] If one combines BP’s own emissions with the emissions of the products it sells, than BP’s emissions are greater than those of Central America, Canada or Britain.

In 2000 the company was renamed BP, with no meaning given to the letters. Its new slogan, “Beyond Petroleum”, was accompanied by the rebranding of its famous “Green Shield” logo in favour of the helios symbol (a green and yellow sunburst) to emphasise the company’s focus on environmentally friendly fuels and alternative energy. This is intended to move BP away from the negative environmental image of most oil companies. However, some environmental groups have accused BP of trying to greenwash their public image, and that their alternative energy credentials are not serious investments but merely a PR exercise.

In July of 2006, BP admitted, after the news was leaked to journalists, that it was facing criminal charges for allowing 270,000 gallons of crude oil to seep across the Alaskan tundra, one of the world’s most sensitive habitats. Environmental advocates pointed to the relative lack of press coverage about the spill as evidence that BP had successfully “greenwashed” its image while continuing environmentally unsound practices.

In other words, the notions of BP being this forward-thinking, environmentally-friendly, alternative energy company are hogwash produced by BP’s ad team. I’ve sold my BP stock.

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