Friday letters: Warming up to climate change
[...] let me make clear ExxonMobil's position on the threat posed by rising greenhouse gas emissions, since your editorial gave a distorted impression of our stance.
[...] the split in the energy industry occurred in the 1990s, led by Enron in the U.S. and BP and Shell from Europe.
[...] opponents of climate action from the industry side have more reason to doubt climate alarmism/government activism now than in the 1990s.
Global warming has slowed considerably since the 1990s, and worldwide government forcing of renewable energy for electrical generation are proving to be costly and inefficient compared to the opportunity cost of natural-gas-fired power.
[...] today, the opposition against phasing out fossil fuels is strong and growing both within and without the natural gas, oil, coal and oil industries.
In an era of growing government debt, reduced or eliminated subsidies to wind power, solar power and ethanol can be expected to increase the market share of fossil fuels, which today have a combined market share of 86 percent.