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CO2 emissions to rise by 25% in 20 years, says Big Oil
By Andy Rowell | Oil Change International
Thursday, January 20, 2011
We are on the path to climate chaos, Big Oil has admitted.
Both BP and Exxon have conceded that progress on climate change is totally insufficient to stabilize CO2 emissions.
Both oil companies have just published their Energy Outlooks, and the outlook looks grim.
In a bleak prognosis for success on reducing carbon dioxide emissions, BP admits in its new Energy Outlook 2030 report, which was published yesterday, that global CO2 emissions from energy will grow an average of 1.2 percent a year through 2030.
In total, BP’s chief economist Christof Ruehl predicts “to the best of our knowledge” CO2 emissions will rise by 27pc over the next two decades, meaning an increase of about 33bn tonnes.
BP’s estimate is just higher than ExxonMobil which believes that CO2 emissions will increase by 25% in 20 years, which, according to John Vidal, writing in the Guardian, in effect dismisses “hopes that runaway climate change can be arrested and massive loss of life prevented.”
These projections by BP and Exxon scientists are gloomier than anything publicly expressed by governments and scientists, who maintain that global emissions can be reduced significantly.
Exxon argues that oil will still be king in 2030: “In 2030, fossil fuels remain the predominant energy source, accounting for nearly 80% of demand. Oil still leads, but natural gas moves into second place on very strong growth of 1.8% a year on average, particularly because of its position as a favoured fuel for power generation.
“Other energy types – particularly nuclear, wind, solar and biofuels – will grow sharply, albeit from a smaller base. Nuclear and renewable fuels will see strong growth, particularly in the power-generation sector. By 2030, about 40% of the world’s electricity will be generated by nuclear and renewable fuels.”
Tagged with: bp, greenhouse gases, exxon, emissions, big oil
