Tony Hayward’s Time As BP CEO Coming To An End

Posted on July 27th, 2010 by
   

Oil spill puts BP CEO Tony Hayward on hot seat, an Energy Innovation Hub to be built in California & Honeywell adds to smart grid platform with E-Mon purchase.

Transcription:

While crews got back to working on the oil well after a weekend of terrible weather, BP’s Board is meeting to discuss a plan to replace current Chief Executive Tony Hayward with American based Robert Dudley. Hayward has received the bulk of the criticism for BP’s role in the Deepwater Horizon drilling rig explosion that saw 11 people dead and unleashed the worst offshore oil spill in the history of the US. Total damages from the oil spill are expected to reach $15-60 billion.

U.S. Deputy Secretary of Energy Daniel Poneman announced that the Department of Energy has awarded $122 million over five years to develop an Energy Innovation Hub. The new center, which will be built in California, will develop and commercialize an integrated solar energy-to-chemical fuel conversion system. The Hub will be directed by Cal Tech Professor Nathan Lewis.

Honeywell has bolstered its smart grid capabilities by acquiring E-Mon, LLC. E-Mon is a leading manufacturer of electric sub-metering products and systems.  Submeters allow building owners  to better control and manage energy costs within separate units of a building. Honeywell’s technologies  currently service more than 150 million homes and 10 million buildings worldwide.

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