Ed note: The following repost of “BP’s Fall From Grace“(December 2010) by Kevin Mooney is testament to the energy realism of Exxon’s Lee Raymond over the image-over-substance approach of John Browne of BP and Ken Lay of Enron. The lesson is clear: false causes and political correctness result in wasted resources and ecological loss. Part III tomorrow (Part I was yesterday) concludes this week’s tribute to the top integrated oil major leader of his generation.
Once simply called British Petroleum, BP transformed its corporate identity into an international ‘green energy’ company with a sunburst logo and the tag line “Beyond Petroleum.” Environmental groups applauded when BP’s CEO gave credence to alarmist global warming assertions. Little did they know that the company’s rhetorical overtures to green causes deflected attention away from its reckless and irresponsible practices that jeopardized worker health and safety and ultimately resulted in death and devastation in the Gulf of Mexico.…
Continue ReadingEd. Note: Lee R. Raymond died last week at age 87. The top integrated oil leader of his era is featured in three posts this week at MasterResource (Part II; Part III). Past posts on Raymond can be found here.
“[Lee Raymond] is a leader among leaders. He’s always encouraged and considered a range of views and opinions on a multitude of issues … including climate change.” – Jamie Dimon, CEO, JPMorgan.
If the bottom line of business is winning for consumers and stockholders, few have matched the accomplishments of Lee Raymond (1938–2026), whose 42 years at Exxon/Exxon-Mobil culminated as CEO from 1993 through 2005. His is a classic case of creating sustainable economic value through talent, focus, and perseverance. Forget what those with termite aspirations toward fossil fuels think.…
Continue ReadingEd note: Travis Fisher, a protege of economist Roy Cordato at North Carolina State University, has blossomed into one of America’s top energy analysts and public policy entrepreneurs. With a grounding in classical liberalism and Austrian school (realistic) economics, Fisher represents the future of applied energy analysis. “Travis stood out because he was genuinely interested in ideas,” recalls Professor Cordato. “His intense interest, as a graduate student, led him to do an independent study with me in Austrian Political Economy, which he has built upon ever since.”
Travis Fisher has emerged as a thoughtful, principled, and influential voice in contemporary American energy policy. As Director of Energy and Environmental Policy Studies at the Cato Institute, he brings a rare combination of intellectual rigor, hands-on governmental experience, and an unwavering commitment to free-market principles.…
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