Matthew Dalton

Well, they have shifted away from a strategy of investing in a broad suite of different energy technologies, from renewables such as wind and solar. They've really pivoted sharply towards just oil and gas, towards really getting out of the green energy business space. They've said that they're going to direct most of their capital expenditure towards the traditional fossil fuels industries.

Well, they have shifted away from a strategy of investing in a broad suite of different energy technologies, from renewables such as wind and solar. They've really pivoted sharply towards just oil and gas, towards really getting out of the green energy business space. They've said that they're going to direct most of their capital expenditure towards the traditional fossil fuels industries.

And they're doing this because Wall Street investors really haven't rewarded them for having this less focused approach that they're now pursuing. They say there are other companies that are going to be investing in green energy, but that's not going to be our focus.

And they're doing this because Wall Street investors really haven't rewarded them for having this less focused approach that they're now pursuing. They say there are other companies that are going to be investing in green energy, but that's not going to be our focus.

They're going to be shifting a lot of their capital expenditure to spending on those things in the U.S. The U.S. as a whole represents about 60% of BP's overall business. So it's a logical place for them to be investing.

They're going to be shifting a lot of their capital expenditure to spending on those things in the U.S. The U.S. as a whole represents about 60% of BP's overall business. So it's a logical place for them to be investing.

The CEO told me that they're going to be boosting production both onshore and in the Gulf of America, as he called it, taking President Trump's preferred term for the Gulf of Mexico. He said that the company was very much aligned with President Trump's call to drill baby drill and really boost oil and gas production. Of course, they're facing right now an environment in which companies

The CEO told me that they're going to be boosting production both onshore and in the Gulf of America, as he called it, taking President Trump's preferred term for the Gulf of Mexico. He said that the company was very much aligned with President Trump's call to drill baby drill and really boost oil and gas production. Of course, they're facing right now an environment in which companies

crude oil and natural gas prices have really slumped as a reaction to the Trump administration's tariff plans, really throwing a lot of doubt on the global oil market because people think that these tariffs are going to really slow growth on a global scale.

crude oil and natural gas prices have really slumped as a reaction to the Trump administration's tariff plans, really throwing a lot of doubt on the global oil market because people think that these tariffs are going to really slow growth on a global scale.

Thanks a lot.

Thanks a lot.

Thank you.

Thank you.

The world's largest annual climate conference kicked off this week. It's known as COP29, and it's taking place in Baku, Azerbaijan. Our colleague Matthew Dalton is an experienced COP attendee, and this weekend he's headed to Baku. How many of these conferences have you been to at this point?

The world's largest annual climate conference kicked off this week. It's known as COP29, and it's taking place in Baku, Azerbaijan. Our colleague Matthew Dalton is an experienced COP attendee, and this weekend he's headed to Baku. How many of these conferences have you been to at this point?

The world's largest annual climate conference kicked off this week. It's known as COP29, and it's taking place in Baku, Azerbaijan. Our colleague Matthew Dalton is an experienced COP attendee, and this weekend he's headed to Baku. How many of these conferences have you been to at this point?

What are you packing to go to Baku?

What are you packing to go to Baku?

What are you packing to go to Baku?