“Any energy company in the world that makes its strategy without considering climate change policies is making a major mistake,” said Faith Birol of the International Energy Agency (IEA), “not only a major mistake for the climate but also for their own profits and for their own shareholders, because climate change policies represent a fundamental challenge to business as usual.”
Exxon Mobil, Shell and others are moving heavily into natural gas, which releases less CO2 per energy unit than oil. Exxon Mobil has also been investing in carbon sequestration research and lobbying for a carbon tax. Shell has been investing in Brazilian biofuels, Chevron in geothermal, and Total in solar.
Even as some big energy players in the USA are still trying to mislead the public by sponsoring Climate Change-denying propaganda, most in the oil industry realize that "if you can't beat 'em, join 'em."
Read more in the San Antonio Express News.
