Big Oil’s cognitive dissonance on climate change

Big Oil’s cognitive dissonance on climate change

There is only one place to start: The latest IPCC report, which makes clear the world really is running short of time to stop climate change.

Warning after warning has been issued. But human-made greenhouse gas emissions — most from burning oil, gas and coal — keep rising. The damage is now pretty much baked in, with a 1.5C increase in temperature above pre-industrial levels now likely by 2040, even with deep and rapid cuts in emissions.

As the FT’s editorial argues, none of the report’s conclusions should be surprising to anyone who has been watching. But it should be alarming and a solution will require weaning us from our “carbon addiction”. The report also sets up a pivotal few months of climate diplomacy ahead of the UN climate conference in Glasgow; as well as the forthcoming debates in US Congress about the $3.5tn budget bill, including climate provisions, the Senate Democrats have proposed.

Welcome to another Energy Source. Our first note today is an op-ed about the oil industry’s cognitive dissonance on climate change. Readers, do please weigh in with your thoughts, gloomy or otherwise.

Our second note and Data Drill both reflect on the past quarter — and what we learnt from