Earth's climate system is breaking down. We are on the verge of pushing civilization off a cliff, condemning billions of innocent humans — along with countless plant and animal species — to needless suffering and death.
So, is it finally time for action? Is it time for change?
Or is it time to maximize profits?
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"Big Oil quietly walks back on climate pledges as global heat records tumble"
Oil majors have, over the past several years, rolled out pledges to decrease oil and gas production and slash their emissions, citing concerns about the climate crisis. But more recently, many have walked those plans back.
Amid record-shattering warmth this February, BP scaled back an earlier goal of lowering its emissions by 35% by 2030, saying it will aim for a 20 to 30% cut instead. ExxonMobil quietly withdrew funding for a heavily publicized effort to use algae to create low-carbon fuel. And Shell announced that it would not increase its investments in renewable energy this year, despite earlier promises to dramatically slash its emissions.
Climate-fueled extreme weather persisted through spring and summer. But fossil fuel companies have only doubled down on their oil- and gas-filled business models. Shell promised to cut oil production by 20% by 2030, but then this year said it already met that goal by selling off some operations to another oil company – thereby not reducing emissions in the atmosphere.
BP has also expanded gas drilling. And Exxon’s CEO, Darren Woods, told an industry conference last month that his company plans to double the amount of oil produced from its US shale holdings within the next five years.
Dan Cohn, global energy transition researcher at the Institute for Energy Economics and Financial Analysis, said that the oil industry’s climate plans should not be taken at face value. “They have left no doubt that their pledges were deployed for cynical political purposes, only to be ditched when they no longer suited the industry’s strategic position,” he said.
Fossil fuel executives sometimes suggest that fossil fuel expansion is necessary. Last Thursday – just after Earth broke an unofficial record for its hottest day ever for the third day in a row – the TotalEnergies CEO, Patrick Pouyanne, told CNBC that his company will continue to pour the majority of its investments into fossil fuels.
“Today, our society requires oil and gas,” he said. “There is no way to think that overnight we can just eliminate all that.”
Pouyanne is not alone. In an interview published the same day, Wael Sawan, CEO of Shell, said curbing oil and gas production would be “dangerous and irresponsible.”
“The reality is, the energy system of today continues to desperately need oil and gas,” Sawan told BBC. “And before we are able to let go of that, we need to make sure that we have developed the energy systems of the future – and we are not yet, collectively, moving at the pace [required for] that to happen.”
“The fossil fuel industry has massively profited from selling a dangerous product," said Naomi Oreskes, a history of science professor at Harvard University, "and now innocent people and governments across the globe are paying the price for their recklessness.”
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Those oil company executives are sickening and disgusting. Not to mention criminally responsible for ecocide. Capitalism kills!
FULL STORY -- https://archive.li/3dJXy#selection-1171.0-1171.75
#Environment #Climate #ClimateChange #ClimateCrisis #ClimateEmergency #Capitalism