The Energy Industry and Fair Reporting

As I continue to learn and write about the energy industry I feel a growing need for fairness. Anyone can sit on the sidelines and throw stones. And Lord knows, there are plenty of great targets for stones when you look at where the oil and coal companies have taken us over the last century. But here, I provide a brief examination of the need for fairness in reporting on the subject.

In a story that one of my people is preparing on British Petroleum, I see that it’s clear that the company’s ostensible interest in renewables is quickly being displaced by executives’ and shareholders’ demand for profits. Apparently, it has discarded its previous vision of moving toward renewables as suggested by its slogan “Beyond Petroleum” which has been articulated as the organization’s rallying cry since 2000.

BP made profits of $25.6 billion in 2008, up 27% from 2007, but has engaged in vigorous job-cutting and other cost reduction, and, in the process has downgraded renewables to the pint of insignificance. Last April, it closed its solar manufacturing plants in Spain and the U.S. Finally last June, the axe fell on the Alternative Energy unit BPs CEO dismantled its London headquarters.

My researcher wrote that BP is keeping its focus on biofuels, but notes that this is only because that “is in the best interest of BP.”  Here, I wonder if this isn’t a little unfair. Can we really expect BP to do things that aren’t in its interests? Yes, we can expect them to keep their promises, and not deliberately mislead us about their motives and actions. But here I think we’ve touched the very essence of the problem.  As I noted in my post called Bill Moyers and Renewable Energy, the profit motive is the sole reason for the existence of the corporation.

The problem that renewable energy faces is very clear: Insofar as it’s not as profitable as fossil fuels, Big Energy can be counted on to fight it all the way. As a reporter, this is what I expect to find, and I am no more angry when I do find it than I am angry with a compass needle when I find it pointing north – that’s simply what it does. But again, in exchange for this dispassionate approach, I’d like to see some honesty in return. I’d advise the energy industry: don’t spend 75% of your advertising and PR budget convincing us of the philanthropy of your token efforts in renewables. In the end, you’ll come off looking better by telling us the truth.