Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown
The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows.
The exclusive data shows these firms are in effect placing multibillion-dollar bets against humanity halting global heating. Their huge investments in new fossil fuel production could pay off only if countries fail to rapidly slash carbon emissions, which scientists say is vital.
The oil and gas industry is extremely volatile but extraordinarily profitable, particularly when prices are high, as they are at present. ExxonMobil, Shell, BP and Chevron have made almost $2tn in profits in the past three decades, while recent price rises led BP’s boss to describe the company as a “cash machine”.
The lure of colossal payouts in the years to come appears to be irresistible to the oil companies, despite the world’s climate scientists stating in February that further delay in cutting fossil fuel use would mean missing our last chance “to secure a liveable and sustainable future for all”. As the UN secretary general, António Guterres, warned world leaders in April: “Our addiction to fossil fuels is killing us.”
gigagrouch almost 2 years ago
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GiantShetlandPony almost 2 years ago
It’s near summer, so that will be less of a problem most places that have grown their dependency on Russian oil.
superposition almost 2 years ago
Have you no pity for the world’s trillionaire corporations/individuals … surely you see that they are but a minority within a minority [the 0.1%].
Radish the wordsmith almost 2 years ago
Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown
The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows.
The exclusive data shows these firms are in effect placing multibillion-dollar bets against humanity halting global heating. Their huge investments in new fossil fuel production could pay off only if countries fail to rapidly slash carbon emissions, which scientists say is vital.
The oil and gas industry is extremely volatile but extraordinarily profitable, particularly when prices are high, as they are at present. ExxonMobil, Shell, BP and Chevron have made almost $2tn in profits in the past three decades, while recent price rises led BP’s boss to describe the company as a “cash machine”.
The lure of colossal payouts in the years to come appears to be irresistible to the oil companies, despite the world’s climate scientists stating in February that further delay in cutting fossil fuel use would mean missing our last chance “to secure a liveable and sustainable future for all”. As the UN secretary general, António Guterres, warned world leaders in April: “Our addiction to fossil fuels is killing us.”
https://www.theguardian.com/environment/ng-interactive/2022/may/11/fossil-fuel-carbon-bombs-climate-breakdown-oil-gas
Radish the wordsmith almost 2 years ago
‘It’s a 50-50 call’: The Earth is close to crossing a key temperature threshold within 5 years
https://www.msn.com/en-us/weather/topstories/it-s-a-50-50-call-the-earth-is-close-to-crossing-a-key-temperature-threshold-within-5-years/ar-AAX5R8C?ocid=msedgntp&cvid=60017b99cb7d49328ed9e556a4ac63c9