I don’t know why anyone interested in objectivity would give a rat’s ass about what fossil fuel interests say about our energy future, but here is Exxon gleefully predicting that the world won’t make enough progress on climate:
Exxon Mobil Corp. said net zero goals for the global energy sector are likely to drift further beyond 2050 due to consumers pushing back against high costs and a revival in demand for coal, the most polluting fossil fuel.
[…]
“If the world tries to shove in some of these more expensive sources too fast, there will be a reaction from consumers,” Chris Birdsall, Exxon’s director of economic, energy and strategy planning, said on a call with reporters. “In democratic societies where there are elections, elections have consequences. We can see political changes that then can slow progress.”
America’s biggest oil company has often repeated that it sees a long future for fossil fuels and that the world isn’t on course for net zero by 2050. But in recent months it has become more outspoken against decarbonization policies that it claims raise the cost of supplying energy, especially in Europe.
It’s like the mafia telling us “we expect crime rates to increase and stay at high levels”, with police officers standing around twiddling their thumbs. Some cops even invite mafia bosses to speak at criminology conferences, saying things like “your expensive crime-fighting efforts have failed.”
Renewables may not be the dirt cheap, unlimited energy source we had hoped for, but they are also not the reason for high electricity prices in the US or the UK. In fact, a big driver behind the high electricity prices is these countries’ dependence on fossil fuels (especially gas) and the lingering hangover from (believe it or not) Russia’s invasion of Ukraine more than two years ago. Exxon didn’t warn us about the political fallout from high gas prices back then, did they?
That throwaway line about “democratic societies where there are elections” is undoubtedly a not-so-subtle racist dig against China, where a sustained, massive expansion of renewables reduced coal consumption as electricity demands reached all-time highs, and rapid growth in EV sales continues to drive down oil demand. Exxon is right to worry about China.
An Inconvenient Thought 