Mike Henry says the pressure on his company to cut its emissions by 30 per cent was not why it sold its oil and gas assets to Woodside. But the deal is a result of forces driven by the environment.
One sobering thought for investors as they contemplate BHP’s divestment of its oil and gas assets to Woodside Petroleum is that the expanded Woodside will have a market capitalisation equal to the value placed on Afterpay, of $39 billion.
This is the starkest example you could find of the forces driving the bifurcation between the old, carbon-rich world and the new, zero-carbon technology world.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
