The enivironmental and social costs of climate change would wipe away the record profits recorded by BP, ExxonMobil and Shell in the last year reports BBC NEWS
February 10, 2006
The True Cost of Oil
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This story highlights our (humans) conundrum well. Blair bleats on about the need to take global warming ’seriously’, but this accounting of what ’serious action’ means in terms of costing the damage caused by carbon shows that just like with cigarette tax, the government would do itself out of huge income if it actually did anything ’seriously’ about reducing demand/supply.
It also shows the scale of the underpricing of oil we enjoy (at our own cost of course).
Ah, but it will be a merry ride downhill when demand finally gets modified due to lack of actual oil….
Comment by alloiledup — May 12, 2006 @ 2:15 am