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silence7@slrpnk.netM to Climate - truthful information about climate, related activism and politics.@slrpnk.netEnglish · 2 years ago

Focus: Oil giants drill deep as profits trump climate concerns

www.reuters.com

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Focus: Oil giants drill deep as profits trump climate concerns

www.reuters.com

silence7@slrpnk.netM to Climate - truthful information about climate, related activism and politics.@slrpnk.netEnglish · 2 years ago
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Oil and gas companies have intensified the hunt for new deposits in a long-term bet on demand, as they reinvest some of the record profits from the fossil fuel price surge driven by the Ukraine war, according to data and industry executives.
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  • skellener@kbin.social
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    2 years ago

    So nothing has changed. 😡😡😡😡😡

    • silence7@slrpnk.netOPM
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      2 years ago

      The oil industry has a history of engaging in substantial extraction based on wishful thinking followed by a bunch of massive losses. Done right, and they can largely end up shut down as this cycle progresses and peoples’ willingness to burn it drops.

      • skellener@kbin.social
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        2 years ago

        Let’s hope they all go out of business soon.👍

      • skellener@kbin.social
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        2 years ago

        Let’s up they all go out of business soon. 👍

  • elouboub@kbin.social
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    2 years ago

    Money over people, always and forever.

    Don’t Look Up was a documentary from another reality.

  • Apenas um Gaucho @lemmy.eco.br
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    2 years ago

    This a sound defeat for now at least. But things can change( and are changing) and they might lost their entire investment in the future.

  • skellener@kbin.social
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    2 years ago

    😡😡😡😡😡

  • Mysteriarch ☀️@slrpnk.net
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    2 years ago

    Drilling will continue until morale profits improve.

    • silence7@slrpnk.netOPM
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      2 years ago

      The thing is that if oil burning starts to fall, more drilling results in lower profits. This has the real potential to drive oil companies into bankruptcy.

Climate - truthful information about climate, related activism and politics.@slrpnk.net

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Discussion of climate, how it is changing, activism around that, the politics, and the energy systems change we need in order to stabilize things.

As a starting point, the burning of fossil fuels, and to a lesser extent deforestation and release of methane are responsible for the warming in recent decades: Graph of temperature as observed with significant warming, and simulated without added greenhouse gases and other anthropogentic changes, which shows no significant warming

How much each change to the atmosphere has warmed the world: IPCC AR6 Figure 2 - Thee bar charts: first chart: how much each gas has warmed the world.  About 1C of total warming.  Second chart:  about 1.5C of total warming from well-mixed greenhouse gases, offset by 0.4C of cooling from aerosols and negligible influence from changes to solar output, volcanoes, and internal variability.  Third chart: about 1.25C of warming from CO2, 0.5C from methane, and a bunch more in small quantities from other gases.  About 0.5C of cooling with large error bars from SO2.

Recommended actions to cut greenhouse gas emissions in the near future:

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