In 2007 Steven Chu and UC Berkeley partnered to accept a $500 million investment from BP to form the Energy BioSciences Institute. BP was slated then to "help save the world." Chu, appointed by Obama, and BP failed.
BP Chairman Tony Hayward stated in June 2007:
From BP’s perspective, the evidence that climate change is happening, and that it is manmade, is mounting all the time. As the UN’s Intergovernmental Panel on Climate Change has found, the evidence is almost overwhelming. We could wait until the science is 100% certain, but BP believes that, as an energy company, it has a duty to act pre-emptively. When you balance the likely impacts of not taking action against the real opportunities that exist to take action, it is difficult to believe that humanity will not move towards a solution to climate change…
We need to ensure that the costs of emissions of carbon dioxide and other greenhouse gases are included in the price we pay for everything – whether it be a television, a train journey, or switching on a light – all should reflect the cost of emissions in their price.
This can be achieved through a Cap and Trade system, taxation, or regulation.
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