I would rather we pull out of using fossil fuels for energy pretty much altogether. Current estimates put us past the (probably to lenient) point of no return for CO2 levels in 17 years I think? Assuming 'business as usual' for that period. To me, that means we need a serious shake up in how we produce energy, and we need it
now.
What I can't get my head round, is why the top brass in the oil and gas industry can't see this coming. We are heading towards climate disaster, if we burn all currently known reserves we go well over the 'safe' limit, and if nothing else, it is a finite resource. Governments are and will continue to implement stricter and stricter regulations on the fuel industry, it is a dying business, albeit slowly. Even China is trying to curtail it's fossil fuel use and has had a decrease in the amount of coal it has burned, because they have already caused climate change across an entire province within their country. Yet despite all of this, oil and gas companies are actively spending huge sums on finding more reserves?! I actually just don't understand. I don't expect them to stop producing fossil fuels tomorrow, but if I was at the helm, I would do something similar to GSK in the clinical trials transparency debate; in other words, realise times are changing, cut my losses and get on with getting to grips with what the new system is going to be, and get a head start. I would be investing that money in renewable technologies, not looking for more reserves, and diversifying into new branches of energy to create a sustainable future for the company. Is the lure of 'easy' money that strong?