The Scam that are #CarbonCredits

Some call it a "Deal", others would say it's simply a "Steal"… 

How BP Got a Deal on Carbon Offsets in Rural Mexico, and the local Campesinos Got Taken for A Ride—with the help of USAID & WRI, the World Resources Institute, "one of the world's most prestigious climate nonprofits" (!!)

See the whole report on Bloomberg here: https://www.bloomberg.com/features/2022-carbon-offset-credits-mexico-forest-bp/?

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#Gasoline, at $4.60 average price in #US, is Highest average ever!

After previous month's jolt in crude oil prices, April saw a wide gyration in prices, dipping to below $100/bbl to end firmly above $100. It was last trading at just under $110/bbl.  Gasoline, however, was up 15% to end firmly above $4/gallon. Last at $4.60 average price in the US!  Highest ever!   3 Month 6 month   1  year   2 years   3 years 5 years 10 years bit.ly/MasterEnergyBlog

#BP plans US$10bn stake in #Australia's Asian #RenewableEnergy Hub #AREH

AREH plans to harness 16GW of onshore wind and 10GW of solar to produce renewable H2 and ammonia

$BP plans to take a major stake in the Asian Renewable Energy Hub (AREH) in East Pilbara, one of the world's biggest projects to produce green hydrogen from wind and solar.

The UK-based oil giant is expected to acquire about 30% of the US$36bn AREH, which plans to harness 16GW of onshore wind and 10GW of solar to produce renewable H2 and ammonia, as well as become its lead developer.

One of BP's most ambitious green targets is to develop 50GW of renewables by 2030 and to take major positions both in green hydrogen as well as blue hydrogen from abated gas.

AREH is currently led by developers InterContinental Energy and CWP Global, while wind OEM Vestas and Macquarie are also stakeholders in the Pilbara project, in Western Australia, which aims to begin generating power by 2027.

See the whole release here: BP plans US$10bn stake in Australia's Asian Renewable Energy Hub - report: