Energy

Bloomberg’s $500 million plan irresponsible

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Outgoing BP Chief Executive Bob Dudley believes Michael Bloomberg’s $500 million plan to halt the building of gas-fired power plants in the U.S. is “irresponsible.”

Speaking to CNBC’s Steve Sedgwick at the Oil & Money conference in London Wednesday, Dudley said: “Every scenario I look at, we cannot carpet the world with renewables fast enough.”

In June, Michael Bloomberg, the former mayor of New York City, said that he would donate $500 million to a co-ordinated campaign called “Beyond Carbon.”

The campaign, according to its website, is designed to get the U.S. “on the path to a 100% clean energy economy.” In doing so, it plans to prevent the growth of natural gas and close every…



Source cnbc.com

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