from Human Wrongs Watch By Rex Weyler* via thefreeonline
(Greenpeace International)* — We know that oil companies hid knowledge of global heating for decades, but the captains of petroleum also schemed to turn the ecological crisis into a profit centre.
The industry devised a plan to swindle money from the public purse by pretending to address the climate issue while using subsidies to increase oil production. If one had no moral compass, one might say their scam was a stroke of genius.
A thick layer of smog hovers above the ground while smoke continues to pour out of the smoke stacks at the oil refinery. © Greenpeace / Colin O’Connor
Since the oil industry — Shell, Chevron, and others — were not prepared to actually slow oil production to halt global heating, and since they had no intention of aiming for zero carbon emissions, they invented “net zero.” The “net” requires that we subtract some carbon from total emissions to create the illusion of “zero” emissions.
Thus, the patriarchs of petroleum profiteering came up with “carbon capture,” a deception that has netted them billions of dollars and euros in public money.
Even the Intergovernmental Panel on Climate Change (IPCC) has enabled the scam, since most IPCC climate models require carbon capture and storage (CCS) to balance the carbon books, always of course, at some time in the distant future.
How the scam works
Oil industry geologists knew in the 1950s that all oil fields would deplete over time, as pressure dropped in rock formations and the oil would no longer flow. They developed certain “enhanced oil recovery” technologies to extend the life of depleted oil fields, by fracking and by pumping carbon dioxide (CO2) into old wells.
Continue reading “How The Great ‘Carbon Capture Scam’ continues Profiteering from Climate Sabotage”
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