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 coal-fired power plant in the U.S.
In a separate speech to those in attendance at the Oil & Money conference, Dudley said that while Bloomberg’s efforts “may be well intentioned,” they were also “misguided.”
“They rest on a false equivalence between gas and coal. And an assumption that an all-electric economy…