“If you take away supply but demand does not change, the only thing that happens is prices go up.” This is surely so obvious that it does not need stating, but it seems that Bernard Looney feels he still has some educating to do. The boss of BP could hardly complain about high oil and gas prices, which have turned the company into a “cash machine” in the last few months, but then he invited the climate activists to consider the effect of stopping hydrocarbon extraction from the North Sea.