The ApocaDocs Logo: the Deaths-head Jester

About:
[The Project]
[The ApocaDocs]
[Equal Share]
The Six Scenarios:
[Species Collapse]
[Infectious Disease]
[Climate Chaos]
[Resource Depletion]
[Biology Breach]
[Recovery]
Explore:

Play:

It's weekly, funny, and free!

SEARCH

More than 6,000 stories!

A great gift
for crisis deniers!


The ApocaDocs have a Book!
Humoring the Horror of the
Converging Emergencies
94 color pages
$24.99 now $15!
Or read FREE online!




Twitter




Ping this story
in social media:
del.icio.us
Digg
Newsvine
NowPublic
Reddit
Facebook
StumbleUpon

Posted Wed Feb 8 2012: from Bill McKibben, on TomDispatch:
The Great Carbon Bubble http://apocadocs.com/s.pl?1328722753
Still, [the energy companies] could theoretically invest all that cash in new clean technology or research and development for the same. As it happens, though, they've got a deeper problem, one that's become clear only in the last few years. Put briefly: their value is largely based on fossil-fuel reserves that won't be burned if we ever take global warming seriously. When I talked about a carbon bubble at the beginning of this essay, this is what I meant. Here are some of the relevant numbers, courtesy of the Capital Institute: we're already seeing widespread climate disruption, but if we want to avoid utter, civilization-shaking disaster, many scientists have pointed to a two-degree rise in global temperatures as the most we could possibly deal with. If we spew 565 gigatons more carbon into the atmosphere, we'll quite possibly go right past that reddest of red lines. But the oil companies, private and state-owned, have current reserves on the books equivalent to 2,795 gigatons -- five times more than we can ever safely burn. It has to stay in the ground. Put another way, in ecological terms it would be extremely prudent to write off $20 trillion worth of those reserves. In economic terms, of course, it would be a disaster, first and foremost for shareholders and executives of companies like ExxonMobil (and people in places like Venezuela). If you run an oil company, this sort of write-off is the disastrous future staring you in the face as soon as climate change is taken as seriously as it should be, and that's far scarier than drought and flood. It's why you'll do anything -- including fund an endless campaigns of lies -- to avoid coming to terms with its reality.
[Read more stories about: coal issues, capitalist greed, carbon emissions, holyshit, global warming, oil issues]

New!:
No reader quips yet -- be the first!

Got a PaniQuip?

Your Quip (limit 140 characters, no links, just wit):

First name:

The text shown in the Web image to the right:


We reserve the right to reuse, remove, or refuse any entry.

'Doc Jim says:
That's twenty trillion dollars of economic development!

NEXT>
More stories:
  • How you can profit from the end of civilization: Doomsday Capitalists' winning strategy commentary
  • NASA satellites show how our icy world is melting
  • (The Great Carbon Bubble)
  • Air sampling reveals high emissions from gas field
  • The Frog of War

  • Want to explore more?
    Try the PaniCloud!
    Copyright 2010 The Apocadocs.com