This can't come as a surprise after all this time, but for some reason it still does. What did BP base its projections for future energy demand in last year's annual report on?
An IEA reference scenario, which that organisation makes clear in its yearly 'World Energy Outlook' is not to be treated as realistic. In the IEA's words:
"The reference scenario does not include possible, potential or even likely future policy initiatives, thus it cannot be considered a forecast of what is likely to happen."
Right. And what impact do BP's energy projections have on its annual report? Well, they're used as justification for more complex and risky types of drilling--like offshore drilling.
When, O when, will the investment community wake up and smell the sustainability roses?
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