
Climate change suffers from a principle I call
Economic Inertia and this is created by
vested interests. It's a bit like a nuclear chain reaction - once it's started the chances of stopping it are practically negligible.
Imagine you have just over a trillion barrels of proven oil reserves lying in ground that you have bought the rights to and have spent money to understand (drilling, testing, modelling, measuring etc).
Add to this all the costs of building and transporting sophisticate drilling and pumping equipment out to these remote sites scattered all over the planet.
Add to this the investments you have made in logistics to get the "product" to the market (Ships, tankers, pipes, tanks, processing equipment, refineries).
Add to this that you have hundreds of thousands of retail outlets where your brand name is an integral part of everyone's life.
Add to this the fact that you have a dependent relationship with one of the biggest manufacturing industires in the world (motor manufacturing). Also note that this is a captive market.
Add to this the fact that governments are dependent on tax revenues that they generate from your product.
Add to this that you have shareholders in your business and most people's pensions are invested in your stocks (including your own). Note that your industry is also responsible for th largest profits ever generated and that your bonuses depend on this.
And then imagine that someone comes along and says:
"Sorry old chap, your product is doing too much damage, you need to abandon everything, cut your losses and reinvest in something completely new."
What are the chances of oil companies becoming altruistic and shunning their
record profits as well as all that secured future income? I don't think so. So "we" are trapped by an economic monster of our own design that will continue to propagate the problem of climate change. This is one of many reasons why my ex-colleagues and I, who worked as consultants in the sustainable energy consulting field reluctantly believe that humanity cannot stop the trend. We will get hammered by climate change and it will hammer us hard. We will survive (I am not a doomsday prophet) but our quality of life will be substantially reduced and life will be tough (but maybe that's what we need). I say this as someone who has worked for Shell. I know what it looks like on the "inside".
The same principle applies to nuclear energy - it is also defended vigorously by people with vested interests.
Some supporting facts:The
IEA estimates there are 5 - 10 trillions boe of recoverable oil & gas available (It really irritates me that a professional body like this can omit the date on such an important claim - oh maybe that's because they don't want to be held accountable when new data proves them wrong?).
BP claim that there is 1.26 trillions toe of recoverable oil (Two important sub-notes here: 1. I trust the BP data more than any other data & 2. Note that the IEA have deliberately fudged the perception of what is really happening by lumping oil and gas together).
Some interesting facts:
If you do a search for
"proven oil reserves" on google you will get the following results ranked in "apparent importance":
Wikipedia (usually not a bad source but tends to be flaky and unreliable - not peer reviewed, open for anyone to edit at will)
The CIA (God help us if anyone believes they are the Über authority, but just in case you didn't know they use other people's data - also never trust anyone who doesn't disclose their references),
EIA (USA, beautifully cross-referenced and balanced report, some parts of this country do actually work, miracles never cease to amaze me)
And then surprise, surprise the two best authorities BP and IEA don't even make the first page of the google search. Considering that these two are the most reliable it gives me deep insight into the reliability of wonderfully powerful search engines - remember that like other machines, someone wrote the rules.
The IEA is subject to wilting from political pressure from the EU, so the reliability depends who's in power.
Generally from what I understand about the appalling attitude of Shell towards the idea of knowledge management as compared to what I have been taught about that of BP, I will venture to say that BP's data is probably the most reliable in this area.
A note on Knowledge Management:A little anecdote to be included in my autobio one day. I was invited to a lunch meeting with the CEO of said company when I worked for them several years ago as part of an initiative to get to know new recruits (commendable). The CEO said "there are no holy cows here, ask me any question you want." When it was my turn I asked what his ideas were on "knowledge management", which was something I was really struggling with in my day to day work. He flippantly dismissed my question by stating that there was no such thing as "knowledge management" and that it was something that consultants had invented to make money. A few yeasr later Shell was embarrassed by the "
shocking admission... that it had overstated its proven oil and gas reserves by 25 per cent." I was particularly peeved by the fact that this person had not attempted to understand what the basis for my question was and didn't give me the opportunity to explain what my experiences were as a new recruit in his organisation. As it turns out I went on to become the best student on my MBA for the Knowledge Management elective and still my proposals fell on deaf ears, especially when it came to my line-manager. It was one of many frustrations that lead me to the decision to apply my services elsewhere.