Well, yeah, they would, wouldn't they. They don't sell coal, and getting rid of it would increase oil and gas demand.
post
This is like the Fire Nation warning us about Voldemort.
please buy our petroleum instead
As carbon capture slows
You can't capture carbon while burning coal! That's like trying blow into your own ship's sails with a fan to make it go! Carbon capture will only be a viable technology after we've already hit 99% gross renewable power. At that point, we can use carbon capture to offset the last 1% and hit net zero. But it won't work before we hit 99%.
Of course that Exxon. They are afraid now that CO2 is rising and the consequences get more and more obvious, people will demand action, and their profits would suffer. If coal had contributed less, Exxon would be able to hold out for longer.
Smoke and mirrors. This is representative of Exxon's general strategy. There is a partial admission of the dangers of climate warming, followed by an absolute refusal to change trajectory. This has not changed, and as long as capital depends on it, it never will.
The headline is not necessarily misleading. It paints an incomplete picture, though. These paragraphs in the article are more relevant (to me) than Exxon's immaterial admissions concerning climate change:
ExxonMobil’s Energy Outlook typically shows strong demand for oil and natural gas for decades into the future even as the world attempts to reduce emissions.
“We are seeing clear signs that coal is sticking longer from an energy security and other perspectives, specifically in parts of Asia-Pacific, China, and others,” Joshi said.
In Exxon's Global Executive Summary, mentioned in the article, coal use is predicted to decrease by 30% by 2050 to be replaced by renewables and natural gas. This is, at best, replacing fossil fuels with fossil fuels.
The mention of including fewer emission-reduction technologies and fewer CCS projections was also interesting:
Other changes in ExxonMobil’s outlook include fewer emission-reduction technologies. Projections for carbon capture and storage, and use of low-carbon hydrogen, dropped by about one-third from last year.
It makes me believe there is no more budget for putting on an overshoot-and-return charade to justify our reliance on fossil fuels. None of this is surprising or remarkable, though. This is not the downfall of Exxon, as the headline might have you believe, this is still business as usual.
That headline makes my brain hurt.
Conservatives are already calling Exxon "woke".
As long as conservatives continue to live, they will do everything in their power to oppress and kill everyone.
If my air conditioner could talk, all it would say is “it’s too hot in here”
There’s not going to be enough popcorn for these last few episodes of this final season.
Technically true.



all 10 comments