Exxon: “Net zero” by 2050 is a myth that will destroy world well-being.
The world is driven by green and ESG hypocrisy, the one that now pervades the remote-controlled heads of EU politicians. In this situation, dissenting voices are silenced with systems bordering on violence, as can be seen with the events linked to the floods in Emilia Romagna. Yet that is what the company hated by all progressives, Exxon Mobil, did this week, first to denounce the insidious and laughable claims that reaching “net zero” would be even remotely possible by 2050.
The US energy company has balked at investors asking it to report on risks to its business from restrictions on greenhouse gas emissions and potential environmental disasters: In a response to proxy adviser Glass Lewis, Exxon said it the prospect of the world reaching net zero carbon dioxide emissions by 2050 is remote and should not be further evaluated in its budgets.
A shareholder proposal asking for a report on the cost of abandoning projects will be submitted to a shareholder vote on May 31. Glass Lewis backed the move, concluding that Exxon could incur significant financial risk from the zero emissions scenario.
Exxon disagrees and said the world is not on track to reach net-zero emissions in 2050, as limiting energy production to levels below consumer demand would lead to soaring energy prices, as observed in Europe after the oil sanctions against Russia for Ukraine.
Exxon is, of course, right, but that won't stop the green zealots from continuing with their unrealistic and harmful demands – after all, we see these people preaching on TV every day.
At the heart of the matter is the International Energy Agency's (IEA) 2050 net-zero emissions (NZE) scenario, which envisions a pathway to limit global temperature rise to 1.5 degrees Celsius. For the NZE scenario to be met, the IEA hilariously claimed that new oil exploration should be halted in 2021 and that nations should switch to renewable energy from fossil fuels (good luck). Exxon is among the companies investing heavily in new exploration to generate oil and gas for decades to come, and in hindsight, one can thank the chosen deity for Exxon's decision to do so, instead of sending the world back to dark ages, an achievement to which many members of the World Economic Forum seem to aspire.
“It is clear that the IEA NZE, as assessed by the scenario authors, does not meet the level of probability required to be included in our financial statements,” Exxon said in a response filed Wednesday with the US Securities and Exchange Commission.
"Society is highly unlikely to accept the degradation of global living standards necessary to permanently implement a scenario like the IEA NZE," Exxon said in rejecting the proposal. That is, Exxon has clearly stated that no people in the world would accept the lowering of the quality of life that would depend on the achievement of this goal. Obviously the researchers forget what the Italians have suffered for having passively accepted the Euro.
Exxon also rejected analyst firm woke's recommendation to assess the impacts of a worst-case oil spill at its offshore oil rigs in Guyana. Exxon heads a consortium responsible for all of Guyana's offshore oil production, and its board of directors has recommended against the proposal.
“The requested report clearly would not provide new and decision-making information,” Exxon said, adding that the shareholder request “ignores the additional time, cost and resources that each report requires the company to prepare.”
This report will not change the attitude of web extremists. everything will continue exactly as before, even at the cost of destroying the well-being of the peoples. Obviously those more similar to sheep, like the Italians, will follow these commandments, but the rest of the world will not, it will rebel. After all, Asian governments are largely responding to these diktats.
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The Exxon article: "Net zero" by 2050 is a myth that will destroy world well-being. comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/exxon-il-net-zero-per-il-2050-e-un-mito-che-distruggera-il-benessere-mondiale/ on Sun, 21 May 2023 09:00:18 +0000.