An array of pumpjacks operating near the site of an oil and gas well in Midland, Texas, is seen in this April 2022 file photo. We need the fossil fuel industry to join us in making the right choice to preserve a livable climate and civilization, writes David Fenton.I am a climate activist. I know and have worked with some of the world’s top climate scientists.
We can do this again, and we truly need a brisk World War II-style mobilization to decarbonize the economy. I know you are caught in a bad system. For example, the equity valuations of the oil and gas companies are significantly linked not only to the size of your fuel reserves but the rate at which they are replenished. Under this system, you feel forced to drill to the ends of the Earth to keep your stock price up and keep your jobs. A few Wall Street analysts maintain this absurd, economically suicidal method of valuation.
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