Late last year Exxon spent $60 billion to by a shale gas giant – the deserve to go bankrupt

Exxon is like many other oil companies – they have buried their head in the sand, and have continued to deny the science.

There are still oil rigs littering our coasts, do we really want another rush to build more equipment, which will last long after the shale gas runs out?

What astounds me, is that, over the last 3 years, the price of Exxon shares has gone up 3 times over. This means that the majority of people who are investing in the market, believes either that there is a killing to be made from Exxon before it goes out of business, or climate change is wrong (it is true that investment in Exxon 3 years ago would have tripled, but a long-term investment is unlikely to be successful, as Exxon has to completely change its business model.

So, why is Exxon buying a shale giant?

Clearly, it thinks that there is money to be made, before the world transitions. The problem is that should Exxon be right, the world will suffer more global warming.

We already need to leave much of our known reserves of fossil fuels in the ground, Shale gas, is just more,

We need to be moving away from fossil fuels as fast as we can.

How is your family doing? As for us, we have bought a second had electric car, we have just installed our solar and thermal solar, and will in a couple of weeks, have a heat pump installed that will remove our last reliance on gas (these two moves, will have removed carbon from our travel and from our house running and heating – we also have zero carbon electricity). Obviously we still have a way to go, but we are making progress. Of course, from a finance point of view, it is a good move – it is true that our car was more expensive than anything we’ve had before, however, the purchase cost will only take 6-7 years to save back , and our house greening has a payback time of around 4 years- after that we should be several hundred pounds better off each month.

Exxon is still betting that there is more money to be made before the good times are over, however they are betting on our future.

It is foolish to invest in them, either they are right, and will make a fortune while the world suffers, or they are wrong, and this business venture will collapse.

Is the COP conferences a waste of time, if climate change deniers are able to lead it?

At the current time, countries in the region in which the COP is held will chose a president. In theory, that is fine, however, in practice if this is going to continue then the middle east should be banned from hosting the conference.

So, what precisely did Sultan Al Jaber say, which was so troubling?

Firstly, he claimed that a ‘phase-out of fossil fuels would not allow sustainable development “unless you want to take the world back into caves'”.

He then claimed that there is ‘no science’ to suggest phasing out fossil fuels is the only way to achieve 1.5C.

After being laughed at, over this utterly insane statment, he suggested that the comment had been misinterpreted. It should be noted, that this was in response to a question from a woman, which he was relatively rude about.

Do you think this woman misunderstood?

He even had the gall to suggest that the misrepresentation was undermining his desire to reduce carbon emissions (perhaps if this is true, it can start with his huge fossil fuel company can show this?). More than 100 countries are already supportive of this.

The worlds uptake of electric cars must accelerate. This is partly underway – last year around 67 million cars were sold, but 14% of these were electric, up from just 9% the previous year. The uptake is accelerating.

It should also be noted that apart from extreme heat in the UAE, continued global warming will also damage the UAE in extreme ways. The UAE economy is 0.5% of the global economy, in the end, places like this may refuse to accept the end of oil, and will have to be bankrupted, as cars move to 100% and many other industries clean up their act.

 

Rishi Sunak is making a stupid decision – end of combustion car sales in 2030?

It was only 3 years ago that the government said from 2030 there would be no more combustion engine, yet his most recent decision rolls this back (though it should be noted that he is still aiming for 80% electric car sales by 2030) along with reducing the requirements landlords to insulate their homes so it is cheaper for their renters to heat their home.

Will this foolish back-track be undone after the next election? Will it be seen as a senseless foolish move in the future? I think that this government will struggle to claim climate responsibility in the future
Continue reading “Rishi Sunak is making a stupid decision – end of combustion car sales in 2030?”

If the US beef industry is deploying tricks similar to fossil fuels and smoking to delay action, what should we do?

It is, unfortunately, a fact, that meat eaters create a significant extra quantity of carbon released into the air. How much? Well this varies from place to place, and product to product.

While many think that grass fed beef is good for the environment, the methane emissions swing this badly

There are an increasingly large number of people who are recognizing this issue. Now while some will argue that without the meat industry, much of the UK farmland would be built on, and that this would be disastrous for the environment are missing the point. We live on an island, and as such it is in our own best interests to make sure that the worlds ice sheets do not melt.

Continue reading “If the US beef industry is deploying tricks similar to fossil fuels and smoking to delay action, what should we do?”

Can nuclear fusion replace fossil fuels?

So, one of the arguments from the fossil fuel lobby for the last 150 years is that their product is essential. The fossil fuels are the only people who can produce the base load of electricity for the grid.

There are loads of other things that can take parts of this (this is the arguments that the fossil fuel lobby put forth) such as wind turbines and solar panels – the problem is that both of these are only available some of the time. If electricity can be carried many thousands of miles, then tidal power might be able to help with this but not in the near future.

When Nuclear fission was first brought in, it was predicted that this would be the perfect base load. Unfortunately not, people don’t like living in places where a meltdown might occur, there is a large amount of nuclear material created, which needs storing for very long periods of times.

Nuclear fusion is different. It is incredibly hard to get it working, taking vast amounts of energy, and goes out if it goes out of control. As a result, a nuclear fusion plant cannot melt down, and you could not make a nuclear fusion bomb.

We are finally making some progress, though as it has always been, predictions as to when it will be ready lie 2 decades out. As if on schedule, late last year the UK government said that the world first nuclear fusion plant could generate carbon free energy by 2040 (18 years out). It is true that the government is putting hundreds of millions of pounds towards this goal, but it is still to far out – in other words, if it takes that long, the human race will need to have cut carbon emissions to near zero without the help of nuclear fusion. Indeed even the EU has referred to it as a possible way to save us from climate change – however, given there is still so much research to be done, we cannot rely on this.

This plant in Nottinghamshire could be replacing coal power plants in the future, though coal is being rapidly phased out anyway. In theory, it is calculated that nuclear fusion could create 4 million times as much energy with the same space, as coal oil or gas.

It is an exciting prospect, and the UK is one of the countries leading the way, never-the-less we are no where near that yet.

Is the soft power of the fossil fuel industry slowing our move away?

The first papers linking carbon emissions and fossil fuel burning were released a long time ago. How long ago? Try John Henry of the Smithsonian Institution at the American Association for the Advancement of Science conference in 1856. Entitled, “Circumstances affecting the heat of the sun’s rays,” the paper was the first research linking increased carbon dioxide with warmer air.

That is 166 years ago!

We recognize that fossil fuels are the problem, yet their paid lobbyists continue to get access to politicians across the globe.

It is true that fossil fuel companies usually have little real power. Instead, they rely on the power they get through donating money to people of influence. How can we break this “soft power”?

What have they done?

  • Spent literally billions on controling the conversation about global warming, and changing the topic of the conversation. For instance what is your carbon footprint? Is something that they have pushed hard – by making everyone think about their own carbon footprint, they move who needs to act, from them to their customers. They also include creating so-called climate solutions, taking tiny percentages of their profits -in an effort to look like they are working for humanity.
  • They have also invested huge amounts into so-called education of the next generation (obviously in their way of thinking).
  • Funding of sports and other things that might influence young people, and in a similar way, arts and culture. Even allowing an oil companies logo to be put on a wall of a museum without explanation is likely to give them a subconscious boost, quite unfair – and something that the museum should never wish to do.
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Resolution to ban the sale of electric cars in Wyoming from 2035 effectively dead

A group of republican state lawmakers introduced a resolution that called for the sale of electric cars to be phased out by 2035. Apparently, the resolutions sponsor does not want them banned (in which case a very poorly worded resolution) he just wanted to make a statement about the phasing out of gas-powered vehicles in other states.

So why was all this undertaken? Apparently a group of the states republican lawmakers are aiming to safeguard the oil and gas industries.

It was suggested that the bill would hinder the states ability to trade with other states “Wyoming’s vast stretches of highway, coupled with the lack of electric vehicle charging infrastructure, make the widespread use of electric vehicles impracticable for the state” so the bill stated.

This is frankly stupid: at the moment there is little charging infrastructure, because there are few electric cars. However, the ban is intended to come into force in 2035 which is roughly 2 whole car cycles into the future. Do these people really believe that there wont be more charging infrastructure by then?

Among the reason cited are the following:

  • Batteries used in electric vehicles could contain critical minerals whose “domestic supply is limited and at risk for disruption”
  • Minerals used in electric batteries are not easily recyclable or disposable, meaning that municipal landfills in the state could be required to develop practices to dispose of these minerals in a safe and responsible manner
  • The proliferation of electric vehicles at the expense of gas-powered vehicles will have deleterious impacts on Wyoming’s communities and will be detrimental to Wyoming’s economy and the ability for the country to efficiently engage in Commerce

Lets take these points in turn:

Point one, suggests that there will be a problem supplying the minerals required for the batteries. This is pretty ridiculous, as if this is true then they have nothing to worry about. Having said that, with the advance of sodium batteries and the increasing quantity of lithium that can be captured from many sources, it is simply not true.

Point two is also false: many of these minerals are very valuable, and it is far cheaper to extract minerals from former batteries than from the ground. There is a rapidly growing industry to extract as much of these minerals as is possible for reuse. Will municipals have to be able to deal with some of these issues, of course, and they will adapt easily as they have many times in the past.

Point three is likely to be true, and is I believe the sole real reason. This move was intended to stop the electric vehicle industry before it got going in the state to protect the oil and gas industry (and the large contributions that flow to politicians from these businesses. I would argue that it makes the politicians look both stupid and corrupt.

The resolutions sponsor said that he did not really want to ban electric cars, but merely make a statement about phasing out gas powered vehicles in other states. Of course what should really be remembered, is that while the environmental catastrophe that we are facing needs an end to combustion engine cars, the cost savings are so extreme, that the number of combustion engine cars people want to by in 12 years is likely to be extremely low.

It is fact that, not only are electric cars quickly reaching similar sticker price to combustion engine cars, but even now over the lifetime of the car, they are vastly cheaper – with most people paying hundreds rather than thousands to fuel them each year.

The worlds 3 most destructive industries are fossil fuels, farming and fisheries, yet all three are protected by (and subsidized) by governments

Unfortunately these 3 activities appear to be most responsible for collapse or incredible pressure on ecosystems across the globe.

Both fossil fuel extraction and farming have required huge areas to be deforested
Continue reading “The worlds 3 most destructive industries are fossil fuels, farming and fisheries, yet all three are protected by (and subsidized) by governments”

Guardian to ban fossil fuel advertising

Given the forward thinking of the Guardian on environmental issues, we would would be reasonable to suppose that they had put a ban on fossil fuel advertising in place a significant time ago.

However they have now put this ban in place. If bans on fossil fuel advertising are replicated in other parts of the economy this could possibly accelerates the end of fossil fuels anyway.

I suppose as the saying goes better late than never ( it’s alarming to say that about a newspaper that is leading the way but these moves should have occurred a decade ago as the science became clear)

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