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Oil Companies Are Failing In Their Climate Pledges? Well, Duh!

Posted on 26th May 2024

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The author (Dharna Noor) of this report on The Guardian seems genuinely surprised that the climate pledges made by fossil fuel companies are turning out the be nothing more than hot air.

None of us should be shocked to hear that "Major oil companies have in recent years made splashy climate pledges to cut their greenhouse gas emissions and take on the climate crisis, but a new report suggests those plans do not stand up to scrutiny." The law requires that companies maximise profits (see here), so the idea that oil companies can be trusted to run their businesses in an environmentally responsible manner is patently laughable.

Here are some relevant facts:

  • The US is now the largest fossil fuel producer in the world, so the US government is at least partly responsible for the lack of progress on climate change;
  • Several oil companies have walked back their climate pledges, although they have, of course, downplayed this in their publicity;
  • Fossil fuel firms are making record profits;
  • Experience has shown, time and time again, that strong legislation is the only way to make large corporations act responsibly;

How long do we have to wait as big business destroys our planet and the future of our children, while governments pussy-foot around one of the biggest problems ever to be faced by humanity?