In a stunning reversal on years of opposition to a global carbon price, the CEOs of six European oil and gas giants have said they are now ready for a price on carbon. Big Oil has broken ranks with Big Coal in a bid to save its own business model, hoping that an international carbon price will phase out coal and cause more gas to be consumed. They are not acting to save the planet. The CEOs of the European oil giants Shell, BP, Total, Statoil, Eni and BG Group, with a combined revenue of $US1.4 trillion – although notably not the US giants Chevron and Exxon – sent letters about this on Friday (29 May 2015) to the head of the UN climate negotiations, Christiana Figueres, and Laurent Fabius, France’s Foreign Affairs and International Development Minister who will also lead the Paris climate talks later this year.
(Renew Economy: Giles Parkinson: 2 June 2015)
Key Words: Fossil Fuels