BP is working to bring more lower carbon energy to the UK, like developing offshore wind,

and we're keeping oil and gas flowing from the North Sea. It's and not all. That's how BP is backing Britain. Well today we're mostly in oil and gas.

We increased the proportion of our global annual investment that went into our lower carbon and other transition businesses from around 3% in 2019 to around 23% in

2023. VP.com slash and not all. The Economist.

Hello and welcome'm Jason Palmer.

Every weekday we provide a fresh perspective on the events shaping your world.

In recent years, Bitcoin miners have been drawn to Texas for its plentiful land, cheap power and libertarian ethos.

But the state is becoming a little less welcoming.

And Indonesia is a country rich in history and folklore.

Now it's using these stories to produce a new global export.

Coming soon to a screen near you, Indonesian horror films.

Be very afraid.

First up,

the

first up First up though, though. This week something big changed for Nigerians and there are hints of a far bigger change still to come. On Sunday, tanker trucks picked up the first batch of petrol from a

mega refinery built by Alico Dangote, the country's richest man.

Nigeria is unusual in two ways when it comes to fuel.

One is that it has plenty of oil reserves, but for nearly 30 years had no capacity to refine it into petrol until now. The other is that for

decades the government insisted petrol was sold well below cost, something like 600 Naira a leader when a fair market price is over a

thousand. The subsidies that picked up the rest chronically squeeze all other

public spending. But yesterday the state-owned oil firm released estimates of what the new

home-brewed petrol will cost and it's close to that thousand mark. To talk about

...