Perverse as it may seem
A stark counterpoint to Van Beurden’s speech comes from a 2013 Shell New Lens Scenario planning document which suggests industry talk of lowering global carbon dioxide (CO2) emissions is just that. Referring to the internationally agreed limit on a global temperature rise of 2C, the document states: “Both our scenarios and the IEA (International Energy Agency) New Policies scenario (and our base case energy demand and outlook) do not limit emissions to be consistent with the back-calculated 450 parts per million (CO2 in the atmosphere) 2C. We also do not see governments taking the steps now that are consistent with the 2C scenario.”
According to one estimate, that Shell statement is tantamount to acknowledging that the world will disastrously vault over the 2C limit.
Link this with
Fossil fuel companies are benefitting from global subsidies of $5.3tn (£3.4tn) a year, equivalent to $10m a minute every day, according to a startling new estimate by the International Monetary Fund.
The IMF calls the revelation “shocking” and says the figure is an “extremely robust” estimate of the true cost of fossil fuels. The $5.3tn subsidy estimated for 2015 is greater than the total health spending of all the world’s governments.
How
The vast sum is largely due to polluters not paying the costs imposed on governments by the burning of coal, oil and gas. These include the harm caused to local populations by air pollution as well as to people across the globe affected by the floods, droughts and storms being driven by climate change.
and
Ending the subsidies would also slash the number of premature deaths from outdoor air pollution by 50% – about 1.6 million lives a year.
Yet, nothing is done, it is asset stripping of epic proportions.
Capitalism gone completely off the rails to such an extent that we risk our own [and only] biosphere.
Perhaps something might be done? Maybe the whole can of worms will be on view? I wont hold my breath, at least, until I have to.
When will we act, not until Shell says we are fucked?
Well I think we have their answer.
So a perverse thank you indeed.