10 October 2018

The recent Intergovernmental Panel on Climate Change (IPCC) report was very depressing, giving the world about 12 years to make the changes necessary to avoid a 2C degree increase in global temperatures.  From that perspective, the possibilities for hopeful change seem remote.  But there are possible leverage points that make change more possible.  Even though most of us consume and emit greenhouse gases, very few of us actually produce the fuels that emit these gases.  The number of entities that actually produce oil, coal, and natural gas responsible for greenhouse gases is actually very small.  According to CDP Worldwide (CDP): ” Over half of global industrial emissions since human induced climate change was officially recognized can be traced to just 25 corporate and state producing entities.”  These entities are:

1. China (Coal) 
2. Saudi Aramco
3. Gazprom (Russia)

4. National Iranian Oil 
5. ExxonMobil  (US)
6. Coal India

7. Russia (Coal)
8. Pemex (Mexico)
9. Shell (Britain/The Netherlands)

10. CNPC (China National Petroleum)
11. BP (Great Britain)
12. Chevron (US)

13. PDVSA (Venezuela)

14. ADNOC (Abu Dhabi)
15. Poland Coal 
16. Peabody (US)

17. Sonatrach (Algeria)
18. Kuwait Petroleum
19. Total (France)

20. BHP Billiton (Australia)
21. ConocoPhillips (US)
22. Petrobras (Brazil)

23. Lukoil (Russia)
24. Rio Tinto (Australia)
 25. Nigerian National Petroleum.        

The problem is that these entities are also powerful politically so it will be difficult to get them to change course.  But there is growing investor sentiment to move toward green energy, and that movement is only gaining strength.  The Guardian notes:

“But for many the sums involved and pace of change are nowhere near enough. A research paper published last year by Paul Stevens, an academic at think tank Chatham House, said international oil companies were no longer fit for purpose and warned these multinationals that they faced a “nasty, brutish and short” end within the next 10 years if they did not completely change their business models.”

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South And North Korea have apparently made progress in tamping down the hostility between the two states.  Much of this progress is due to South Korean President Moon and his strong desire for reconciliation between the two.  According to Reuters:

“The two Koreas agreed to halt military drills, set up a no-fly zone near the border and gradually remove landmines and guard posts within the Demilitarised Zone, among other steps.

“The deal was sealed by South Korean President Moon Jae-in and North Korean leader Kim Jong Un during their third summit in Pyongyang on Sept. 18-20.”

Apparently, the US is not pleased by these moves because they do not specifically relate to the issue of denuclearization which Washington defines as the central issue.  In a rare display of disunity, US Secretary of State Mike Pompeo has expressed US displeasure with these moves. 

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