Doug Sheridan says
Our Take...
The oil and gas industry is under pressure from some, including interests at COP28 UAE, to voluntarily phase out the production of hydrocarbons, which are blamed for causing climate change and environmental degradation. This is a misguided and dangerous proposal that the industry should reject out of hand.
You see, the political left and climate activists want the oil and gas industry to do their dirty work for them. They want the industry to take the blame and the responsibility for the consequences of eliminating these fuels, while they take the credit and the praise for saving the planet.
They want the industry to bear the costs and the risks of transitioning to renewable energy, while they reap the benefits and the rewards of appearing green and clean. They want the industry to be the scapegoat and the villain, they the hero and the savior.
It's is a clever and cunning strategy, but it is also a dishonest and hypocritical one. The political left and climate activists are quick to subsidize renewables, but slow to actually ban fossil fuels—which they could do. The reason is they know they will be held to account by the public for the ensuing disaster of falling standards of living and economic chaos.
They also know that oil and gas are essential for powering the modern economy, providing reliable and affordable energy for transportation, manufacturing, agriculture, and many other sectors. Without hydrocarbons, the world would face severe energy shortages, blackouts, inflation, unemployment, and social unrest.
Just to reiterate, for good measure...
Eliminating oil and gas by any means other than market forces would rival as one of the most consequential and regrettable unforced errors in history. So greens are attempting to push the oil and gas industry to voluntarily stop producing on their own. This way, they can avoid the backlash and the blame from the public, shifting it to the industry. They can accuse the industry of being greedy and selfish, of hoarding and profiteering.... and also be pointed to as the cause of climate change.
The whole thing is a trap that the oil and gas industry should avoid stepping in. The industry has nothing to gain from taking responsibility for what would surely lead to global chaos. It also has nothing to apologize for providing the world with the energy it needs and wants.
To Sum It Up: The oil and gas industry is, first and foremost, the ally of the human progress. If some want to take the risk of turning away from hydrocarbons, it should be *they*... not the oil and gas industry... that force the change on the public and are held accountable for the results. Period.