“We cannot allow oil executives to blackmail us,” concludes Houston Chronicle business editorialist Chris Tomlinson. “They are not prophets; they are business people looking for profits.” And you, sir, are an elitist telling motorists and travelers of all ages and income levels to go eat cake.
He just keep doubling down against consumers who naturally choose the best energies–the plentiful, cheaper, more dependable ones. And so Chris Tomlinson closes out his repugnance week at Houston’s World Petroleum Congress with a peculiar rant:
Yes, Big Oil’s leaders promised to reduce greenhouse gas emissions as long as they can make money. But failure to provide the industry with $11.8 trillion in capital between now and 2045 will trigger an energy crisis that they insist will make the public forget all about the climate crisis.
Correct. Oil controls the global transportation market: cars, trucks, trains, ships, airplanes. And the “climate crisis” is about cranky computer models that spit out results that can be no better than their assumptions.
But Chris is different. He drives a Tesla, the car that few can afford. And he is married to a well-off solar executive who presumably is a reason for his closed mind toward climate alarmism and the problem of government-driven inferior energies.
Tomlinson imputes defeatism and angst in the industry:
The industry is panicking. Investors and governments are refusing to finance big fossil fuel projects with an aim to neutralizing greenhouse gas emissions by 2050. Big Oil is paying more for capital as investors shower clean energy companies with resources.
Or maybe not. The large majority in oil and gas (and coal) know that climate alarmism rests on shaky science (wink, wink at the latest UN/COP26 Red Alert). (Don’t we all.)
It may be Tomlinson that is feeling desperate because his agenda is being tested as consumerism trumps political elitism. He has called for the oil and gas industry to cease operations, but it is booming with no end in sight. And healthy cash flow and stock performance is attracting capital outside of the heavily publicized investments funds that threaten to cease funding of oil.
Back in the real world, James Osborne, no friend of the oil and gas industry, wrote his conference account next to Tomlinson’s screed. Osborne begins:
In India, government officials use the term “clean energy” to describe building LNG terminals and pipelines so households don’t have to burn wood or cow dung. In Nigeria, clean energy means developing offshore natural gas fields, instead of capping them and moving on to search for oil.
The resistance in Asia and Africa to abandoning fossil fuels could extend the runway for the oil and natural gas industries that support the Texas economy…. African and Asian leaders are asking why they should sacrifice their development to solve a climate problem that was largely caused by the West.
“It is not feasible for oil and gas to be taken offline in the short- and medium-term because of the state of our development,” said Lawrence Apaalse, chief director at Ghana’s Ministry of Energy. “We’re just beginning to industrialize.”
And that is just the developing world. In the United States (as elsewhere), oil and gas is booming despite the (short-lived) politics of the Biden Administration that will drive him out of office soon enough.
Tomlinson speaks of a “social contract” and complains that the oil and gas industry are “not above making implied threats.”
“If we don’t invest in energy, we are going to pay the consequences on a global basis,” declared Charif Souki, executive chairman of Tellurian, a U.S. liquified natural gas exporter. “When most people around the world are confronted with a choice between a climate crisis or an energy crisis, they will choose to deal with an energy crisis first and with a climate crisis after.”
True, today’s problems come before a hypothetical long-run problem.
“We cannot allow oil executives to blackmail us,” concludes Houston Chronicle business editorialist Chris Tomlinson. “They are not prophets; they are business people looking for profits.” And you, sir, are a wealthy elitist telling the average car owner and traveler to go eat cake.
via Master Resource
December 14, 2021 at 01:02AM