Exxon (a global supplier of oil and gas) agrees with the IPCC that the continuous use of fossil fuel will increase the rate of global warming. However, they argue that stopping the supply of fossil fuel would be irresponsible as people will not address this issue and may therefore need it.
Who are we to tell developing countries, that may be dependent on fossil fuels for their economic development, to stop using it? This is where we need to take responsibility for our own actions. In an ideal world the oil and gas companies may have invested in new technology to enhance the development of sustainable energy. But who are we kidding? Making money in the short terms always seem to win over the argument of a better future in the long term.
I see this as a challenge. Let's reduce our use of fossil fuel as best as WE can and show Exxon that we DO care.
"The question is not whether or not we'll face the low carbon standard, but whether they are prepared to address it. We need to know what's at stake," she said. "But at least now investors know that Exxon is not addressing the low carbon scenario and (is) placing investor capital at risk." Exxon and the environmental groups agree that climate change is a risk and that society will take steps to reduce emissions from fossil fuels to slow the buildup of greenhouse gases in the atmosphere. They differ, however, on how drastic society's response could be, and what would cost more severely restricting fossil fuel consumption or not doing so and allowing more carbon dioxide to build in the atmosphere.