Advertising imitating Life…but just which photograph is the fashion shoot ?
The Transnational Institute are carrying a story warning of further oil industry nightmare scenarios :-
“BP-Style Extreme Energy Nightmares to Come: Four Scenarios for the Next Energy Mega-Disaster…Michael Klare : The Huffington Post : July 2010 : The BP Gulf oil spill is not an anomaly but the result of industry-wide recklessness, as companies employ more and more risky methods to reach inaccessible reserves as the conventional ones run dry. On June 15th, in their testimony before the House Energy and Commerce Committee, the chief executives of America’s leading oil companies argued that BP’s Deepwater Horizon disaster in the Gulf of Mexico was an aberration – something that would not have occurred with proper corporate oversight and will not happen again once proper safeguards are put in place. This is fallacious, if not an outright lie. The Deep Horizon explosion was the inevitable result of a relentless effort to extract oil from ever deeper and more hazardous locations. In fact, as long as the industry continues its relentless, reckless pursuit of “extreme energy” – oil, natural gas, coal, and uranium obtained from geologically, environmentally, and politically unsafe areas – more such calamities are destined to occur…Until then, prepare yourselves. The disaster in the Gulf is no anomaly. It’s an arrow pointing toward future nightmares. [ Michael Klare is a professor of Peace and World Security Studies at Hampshire University, a renowned analyst on oil politics and US defence policy and was TNI’s first Phd graduate when TNI used to run an academic programme through a virtual US university. ]”
Is BP plc a Sustainable Business ?
An assessment of BP plc’s performance in relation to their climate change impact, and their approach towards ensuring both environmental sustainability and corporate survival.
by Jo Abbess
29 April 2010
The Research Question
This piece of research seeks to assess how BP plc is making adaptations in its corporate strategy, in view of the risks to its operations posed by Climate Change policy, and in the context of Peak Oil production and the subsequent inevitable Peak in Natural Gas.
Theories and Propositions
The author of this research has the view that over the course of the next 50 years, due to limits on supplies of good quality fossil fuels, and to avoid the risks of dangerous climate change from global warming, the world economy must de-carbonise, and entirely replace its sources of energy and fuel with low carbon alternatives.
According to this projection, any company that wishes to remain in business should begin their process of total decarbonisation immediately, and will be expected to show evidence for their intentions and procedures for change. This is likely to be particularly difficult for Oil and Gas companies, as their core business is based on energy and fuel resources that must be entirely replaced.
The 50 year timeframe may be beyond the thinking of most political analysts, but is relevant to pension funds, annuity providers and insurance companies. Investors are likely to become more interested in determining the carbon “liabilities” of fossil fuel stocks and shares, and take a risk-averse approach to future stakes in Oil, Gas, Coal and other high carbon fuels.