Thursday, July 19, 2007

We're the Carbon Cartel and We Want Your Money

Both the International Herald Tribune and Environmental Economics are reporting this as news, whereas loyal (and long suffering) ClimateerInvesting readers know that BP and XOM are members of the Business Roundtable's RESOLVE and BP, COP and RDS are members of USCAP:

"Facing the Hard Truths About Energy"

...Perhaps the biggest surprise is that Raymond, who was well known for his skepticism of the causes of global warming when he was chairman of Exxon Mobil, has given his backing to a report addressing how oil companies should deal with carbon emissions on a global level. The report said oil companies and governments need to address carbon emissions and offers some suggestions for how the industry can help trapping carbon dioxide in underground reservoirs.

"It is a hard truth that policies aimed at curbing carbon emissions will alter the energy mix, increase energy-related costs and require reductions in demand growth," the report said. It said the U.S. government should establish a regulatory framework for managing carbon emissions, but did not recommend any specific policy.

From the IHT

HT: Environmental Economics