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30% of emissions are from China. Oil companies real motivation was to manufacture scarcity, not produce as much oil as they can. Oil companies only have good
by machina_ex_deus 3y ago
30% of emissions are from China.
Oil companies real motivation was to manufacture scarcity, not produce as much oil as they can.
Oil companies only have good margins when there's artificial scarcity, from geopolitical turmoil, from climate change dumb policies.
It is taken for granted that oil companies lose from the climate change agenda - but when you look at the actions, they don't lose, they win.
If the climate change agenda didn't stop their competition, if geological turmoil in the middle east and Venezuela didn't reduce the oil supply, oil would be pretty cheap. The U.S. got oil independence under Trump, but then the climate change agenda under Biden rolled it back and the oil prices soared. If oil prices are higher when climate agenda and policies are implemented, it seems like we've got it backwards.
We also have it backwards regarding our control of climate change. China has 30% of global emissions. The same China that stopped it's economy for COVID. If they believed climate change is a risk to them, they would do something.
But China hardly cares. Maybe, China doesn't see it as a risk. If China isn't going to be serious about it, the only rational decisions are either that it's inevitable and out of our control or that it's not that bad. There's no future where the west miraculously turns the ship around by itself out of a disaster that's 30% out of its control. That's the real lie.