Here’s why I’m watching the BP share price
Over the last five years, the BP (LSE:BP) share price has underperformed all of the other oil majors. Of the six, it’s the only one that’s lower than it was in 2019.
That’s partly due to the company’s recent record of putting its capital in the wrong place at the wrong time. But the firm’s recent change of direction has me looking more closely at the stock.
Pivot
BP’s been active in looking to invest in renewable energy generation. The trouble is, the last few years have arguably been exactly the wrong time to be trying to do this.
High inflation and rising interest rates have made projects expensive. And it’s unclear that a company like BP has any particular competitive advantage when it…
