10 July 2009 • 7:00 am

Beyond Petroleum? No, BP is Back to Petroleum

In retrospect, the news this week that British Petroleum is backing away from its highly-visible efforts to lead development of alternative energy sources is hardly surprising. BP is shutting down its separate office for the Alternative Energy division, substantially cutting its investment, and its chief executive has taken early retirement. In his in-depth analysis, Financial Times reporter Ed Crooks identifies some of the key factors that led to the apparent course correction.