Fri Feb 23, 2007
The western oil majors’ have gradually moved toward accepting that burning oil and gas is a main cause of climate change but views on global warming and what to do about it still vary across the industry. Almost all scientists agree that a rise of CO2 in the atmosphere is heating the planet and that the rise is likely primarily caused by human activity, especially burning hydrocarbons.
Environmentalists want governments to force cuts in emissions of heat-trapping gases.
Some business leaders oppose capping companies’ emissions. Others support caps, providing they are accompanied by mechanisms that allow firms which exceed their targets to buy credits from businesses that undershoot their caps.