BP Goliath plays David

Lord Browne has just come back from the US and says he is suffering from jetlag. As an opening remark it is a typical bit of reverse bravado from the BP chief executive.

But have enough of BP’s record profits gone into preparing British energy infrastructure and fending off this winter’s potential energy crisis? Browne plays down the gloomy scenarios. “Much depends on the weather. If it is really, really cold then energy could be tight but we should be fine.

The renewables business will still be dwarfed by traditional oil and gas, but John Browne, the chief executive, believes there is now serious money to be made from wind and sun.

guardian