Green shoots on Climate Change?

All major oil companies have business plans showing growth over the next 5 years. To be fair to the oil companies, with the current world economic and money models, they have no choice but to go for growth.

If a climate catastrophe is to be avoided, we cannot use the oil and gas reserves we already know about, let alone any new finds. What is needed is oil company shrinkage rather than growth.

So it is great news that Greenpeace has won an injunction in the Scottish courts against a drilling permit issued by the government. This will initially delay, and maybe stop BP sinking new wells in the North Sea.

The legal challenge is that new drilling is incompatible with the UK’s legal commitment to be carbon neutral by 2050. This is the same argument that has held up the third runway at Heathrow.

If only this Conservative government would take its climate change responsibilities seriously and HAVE A STRATEGY, we might stop going round in legal circles and wasting our money.

2 thoughts on “Green shoots on Climate Change?

  1. Is there a third way between growth and shrinkage? Could switching more investment in renewable energy sources enable the oil companies to remain viable?

    • Oil companies spend a small fraction of their R&D on renewable energy. My view is that it needs serious government legislation to force companies to disclose their climate change impact. And then to tax them on it. Then we would get some real progress rather than empty words.

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