The chief economist of one of the world’s biggest oil companies is urging other companies to take climate change seriously — and sooner rather than later. That’s the warning from BP’s Spencer Dale, who made the rounds in Washington last week explaining the business case for finding a solution for the warming planet.
“How do I run a business, how do I make a business plan if I know that the path I’m on is unstable?” Dale asked. At the center of the report’s most likely scenario for the future is the tension between the pressing need to slash carbon emissions and the growing demand for energy as the global population grows and seeks better livelihoods.
Indeed, history shows how hard it has been for societies to move from one form of power production to another, Dale said. Previous energy transitions have taken about four or five decades, he said. But BP’s analysis suggests that is not fast enough to stem the growth of climate-warming emissions. Even though new renewable energy will satisfy about half of the new energy demand, carbon dioxide emissions are likely to increase by about 10 percent instead of falling sharply as needed to stem climate change.
Welp, one down, dozens to go
Only when their lobbyists in Washington stop lining the pockets of the members of Congress, to overlook the environmental issues, we can begin to take them seriously. Until then this is all a publicity stunt, window dressing.
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