Oil briefs – BP now means ‘Back to Petroleum’ and EIA means ‘clueless’

In 2000, BP said its initials now stood for “Beyond Petroleum.” Not any more. Canadian partner Husky is heavily involved in Albertan oil sands, BP wants to refine sour crude in the U.S., and it’s rumored the company is going to ax a lot of green initiatives.

Meanwhile, the government’s Energy Information Administration expects this summer’s gas prices will peak at $3.60/gal.

I highly doubt we’ll be that lucky. The main cluelessness is that EIA apparently still has an allergy to the phrase “Peak Oil.”