Monday, November 9, 2015

The oil conundrum and climate change: the Exxon ruse

I don't think it would come as a surprise to anybody that the oil industry would work hard to mitigate any prospective or information that can harm their industry. In fact, corporations largely operate with their own interests in mind, or rather in the interests of the shareholders. As a scientific data becomes overwhelming to the point that deniers now looks stupid, we're just coming out that many oil companies including the giant Exxon, New decades ago that climate change was a real event. Some have even dubbed the ruse by Exxon as the overwhelming worst thing a corporation has ever done in the history of the world. That's a tall order to achieve get the lights of the tobacco industry. but it seems that over the past four decades Exxon has gone out of its way to ensure their activities and bottom line were protected. Is a weather not the recent allegations will have any effect on the company but one thing we know for sure is that given the recent drop in demand of oil the future demand seems to be slowing. Every decade there is another call for the end of oil and even the end of peak oil, but in reality all use won't be going away anytime soon but its dominance is slowly eroding. That means Exxon and others will slowly be pushed out of the picture simply because of a demand problem cannot because they intentionally altered the world climate. Can you imagine if this type of allegation ever ended up in a court? Only would've be tied up in litigation for decades upon decades, the penalty that would eventually come down (if it ever did) would likely not mounted very much in comparison to the alleged impact.