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Politics : Rat's Nest - Chronicles of Collapse
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To: Wharf Rat who wrote (234)6/6/2005 3:40:26 PM
From: SiouxPal  Read Replies (1) of 24210
 
Random Acts Of Corporate Responsibility

And here we all thought it would take an act of God. Turns out ExxonMobil quietly released a report that accepted industry estimates that global oil production is going to peak...in five years. Meanwhile, across the pond, a group of 12 major British corporations have jointly requested that the British government put in place legislation that will reduce U.K. carbon emissions by 60 percent—and end the uncertainty over emissions policy.

What does this mean? In the ExxonMobil case, it means the "drill our way to energy security" camp is left without is largest corporate patron. Indeed, ExxonMobil is now talking about efficiency as a national priority. This will help the ANWR folks as well as throw the Energy Bill for quite a loop.

The British initiative speaks more to economic competitiveness. Of course, the European Union has already committed itself to Kyoto treaty and to its own community-wide reduction targets, and Brussels itself is coming out strong for emissions reductions at the same time. Will America miss out on this major industrial evolution because Washington is too tied to big oil and gas?

Now that the biggest oil and gas firm is talking efficiency, maybe not. But will it change the calculus in Congress before the energy bill comes out of conference? Stay tuned.
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