… 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).
Kevin G. Hall of McClatchy reports:
“Of the 251,287 WikiLeaks documents McClatchy obtained, 23,927 of them — nearly one in 10 — reference oil. Gazprom alone is mentioned in 1,789.
In the cables, U.S. diplomats can be found plotting ways to prevent state entities such as Gazprom from taking control of key petroleum facilities, pressing oil companies to adjust their policies to match U.S. foreign policy goals, helping U.S.-based oil companies arrange deals on favorable terms and pressing foreign governments to assist companies that are willing to do the U.S.’s bidding.”
Read more: http://www.mcclatchydc.com/2011/05/16/114269/wikileaks-cables-show-oil-a-major.html?storylink=addthis#ixzz1Md96l97E
Stratfor provides an invaluable map of foreign energy interests — the big multi-national oil companies — in Libya, including Exxon-Mobil, Shell and BP. It helps to provide context about Qaddafi’s Libya, the current civil war, the Western intervention and answer questions about who profits and who pays.