BP Seeking to Drive Down Costs Below $40 a Barrel by Decade-End

The transcript discusses the importance of cooperation in oil production, the viability of shale oil, and the need for financial discipline. It covers BP's cost management strategies and their re-entry into the solar market. The future of BP in renewable energy is explored, along with the potential for Arctic drilling.

Why is cooperation in the oil industry considered important?

• To maintain a stable oil price range

• To ensure a high oil price

• To reduce oil production

• To eliminate competition

What is the expected oil price range for 2018 according to the transcript?

• $40 to $50

• $50 to $55

• $55 to $60

• $60 to $70

What is the main reason for maintaining cost discipline in the oil industry?

• To increase market share

• To increase production

• To avoid repeating past cycles

• To reduce competition

How does the US act as a shock absorber in the oil market?

• By increasing production during low prices

• By decreasing production during high prices

• By stabilizing prices during fluctuations

• By exporting more oil

What is BP's approach to re-entering the solar market?

• Investing in solar panel technology

• Manufacturing solar panels

• Developing solar projects with natural gas

• Focusing solely on wind energy

How does BP view the impact of tariffs on solar imports?

• It will lead to increased costs

• It will significantly change their strategy

• It will halt their solar projects

• It will not change their approach

What is BP's long-term strategy in renewable energy?

• To combine renewables with natural gas

• To exit the renewable energy market

• To invest heavily in wind energy

• To focus only on solar energy