Wednesday, May 18, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Opinion Columns Business Class by Rudy Romero

Big Oil on collision course with climate movement

Rudy RomerobyRudy Romero
January 18, 2022, 12:10 am
in Business Class by Rudy Romero, Columns, Opinion
Reading Time: 3 mins read
A A
77
SHARES
Share on FacebookShare on TwitterShare on Email

“Obviously, the world economy cannot completely shift out of fossil fuels overnight.”

When they made their discoveries of vast deposits of petroleum in southwestern United States, in the Middle East and elsewhere during the period from the late 1800s to the early 1900s, little did the geologists of the US and other Western countries expect that they would, a century later, undergo a drastic reputational change – from prime promoter of mankind’s progress to destroyer of planet Earth. No other sector of humankind has undergone such a rapid fall from grace in so short a time.

That fall did not happen overnight. It has been in progress since the establishment by scientific date, several decades ago, of a connection between CO2 (carbon dioxide) emissions and the gradual warming of the planet. For the world oil industry there was no escaping blame, for more of the other major sources of power – nuclear, geothermal, hydro and solar – generated CO2 emissions. Only fossil fuels did.

The recent 26th Conference of the Parties to the UN-sponsored international climate change discussions – COP26 for short – held in Glasgow, placed many things beyond doubt. Arguably the most important of these is the collision course upon which the increasingly unified world anti-global warming movement and Big Oil – the collective name for the grant companies that make up the world petroleum producing industry. It could hardly be said that Big Oil was the elephant in the room at COP26: it was front and center throughout the conference.

The agreed need to put an end to global warming almost entirely depends on the production and use of fossil fuels, and there is universal agreement that the reduced-global-warming target set by the Paris Climate Accord of 2015 – a 1.5 to 2.0 percent maximum increase above the pre-Industrial Revolution average world temperature – can be attained only by a progressive reduction in CO2 emissions. For Big Oil, that means a progressive reduction in the share of fossil fuels in the world energy consumption mix.

The world petroleum-producing industry is one of the world economy’s largest and most essential industries. It is made up of three parts, to wit, the U.S. and Canada, the members of OPEC (Organization of Petroleum Exporting Countries) and other non-OPEC producers. Most Big Oil producers are state-owned companies, such as Saudi Arabia’s Aramco; the rest are not. When one speaks of Big Oil, the corporate names that readily come to mind, besides Aramco, are Royal Dutch, British Petroleum and Chevron. These latter companies are truly international in scope and possess enormous industrial and political clout; they are the biggest of Big Oil’s biggies.

ADVERTISEMENT

Dealing adequately with global warming is an existential question for Big Oil. Producing petroleum and getting the world’s people to use more of it is what their corporate lives are all about. Whether they are state-owned or not, the members of Big Oil are united in their intention to hang on to remain, collectively, the leading player in the world energy market and to keep fossil fuels as the largest part of world energy consumption for as long as possible.

Obviously, the world economy cannot completely shift out of fossil fuels overnight. Non-fossil fuel energy sources will have to be developed to replace fossil fuels as speedily as possible. The global-warming clock is ticking.

The collision course upon which Big Oil and the anti-global warming movement are embarked is, under the circumstances, inevitable. But collision courses are correctable. One side can correct its course and thereby avert disaster. Unfortunately for it, the needed course correction will have to be made by it.

Tags: Big Oilcarbon dioxideClimate changeCO2COP26Glasgowglobal warmingoilRudy Romero
ADVERTISEMENT
Rudy Romero

Rudy Romero

Related Posts

The sin of low wages

byManila Standard
May 18, 2022, 12:15 am
0
134
The sin of low wages

This week’s announcement of a paltry P33 increase in the minimum wage in Metro Manila confirmed what we gathered from...

Read more

The 6Gs of PH elections

byErnesto M. Hilario
May 18, 2022, 12:10 am
0
157
Denying Villafuerte justice

"Guns, goons, gold, glitter, guile, greed" If politics is defined as the art of expanding the limits of the possible,...

Read more

The new Manny Villar

byTony Lopez
May 18, 2022, 12:05 am
0
158
UnionBank buys Citibank’s local business

"Go head-to-head and toe-to-toe against the biggest and oldest company in the business." This year, Manuel B. Villar Jr. did...

Read more

How world’s most precise clock could transform fundamental physics

byAFP
May 18, 2022, 12:00 am
0
140
Southwoods nails Seniors’ Fil golf crown

"Clocks tick at different rates when separated by fractions of a millimeter." By Issam Ahmed US scientists have measured Albert...

Read more

COVID remains

byManila Standard
May 17, 2022, 12:15 am
0
162
COVID remains

We have to wait a few more days to know whether there indeed was an uptick in the number of...

Read more

Is Robredo plotting something?

byEmil Jurado
May 17, 2022, 12:10 am
0
824
Denying Villafuerte justice

"And is it crazy, stupid or evil?" The continued mass gathering and protest rallies of the Yellows turned “Pinkos” together...

Read more

Stories you may like

  • Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    Ex-Naga dad links Leni’s brother-in-law to illegal drugs

    35764 shares
    Share 14306 Tweet 8941
  • Of course, it was BBM’s project

    30171 shares
    Share 12068 Tweet 7543
  • INC endorses BBM, Sara

    28655 shares
    Share 11462 Tweet 7164
  • Duterte’s seven biggest achievements

    17818 shares
    Share 7127 Tweet 4455
  • Marcos leads SWS survey on presidentiables at 50%

    13535 shares
    Share 5414 Tweet 3384

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • Congress set to canvass votes
  • Laguesma, Ople tapped to head labor, migrant workers’ portfolios
  • Sara hands-off on appointments
  • New law gives honorarium to SK members
  • Cray paces paltry 4-gold haul, PH still 3rd in SEAG
  • Speaker Velasco backs Romualdez as his successor
  • ‘Best AFP officers for highest posts’

Advertisement

Latest News

Cray paces paltry 4-gold haul, PH still 3rd in SEAG

byRiera U. Mallari
May 18, 2022, 1:10 am
0
142
Speaker Velasco backs Romualdez as his successor

Hanoi—Ageless runner Eric Cray, cue artist Rubilen Amit, taekwondo jin Kurt Barbosa, and a muay thai duo saved the day...

Read more

Speaker Velasco backs Romualdez as his successor

byMaricel Cruz
May 18, 2022, 1:00 am
0
147
Speaker Velasco backs Romualdez as his successor

Speaker Lord Allan Velasco on Tuesday endorsed House Majority Leader and Leyte 1st District Rep. Martin Romualdez as his successor...

Read more

‘Best AFP officers for highest posts’

byMacon Ramos-Araneta
May 18, 2022, 12:40 am
0
172
Vax wastage, infection surge feared in Odette-hit areas

With Republic Act 11709 officially a law, only the best officers in the Armed Forces of the Philippines (AFP) can...

Read more

Transmission of Omicron variant confirmed—DOH

byWillie Casas
May 18, 2022, 12:30 am
0
139
BBM, Sara to resume stumping together; Bicol groups back UniTeam

The Department of Health (DOH) on Tuesday said it has detected local transmission of the COVID-19 Omicron subvariant BA.2.12.1 as...

Read more

‘Foundlings’ law, 3 others signed by President

byVito Barcelo
May 18, 2022, 12:20 am
0
153
DOLE 9 joins Duterte Legacy: Barangayanihan Caravan in Dipolog City

President Rodrigo Duterte has signed a law recognizing abandoned children found in the country or in Philippine embassies and consulates...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App