ABSTRACT
Oil and gas provide the world with an economic, reliable and convenient form of energy that has underpinned the growth of the world’s economies. The development of natural gas introduced a direct competitor for the oil companies own fuel oil and with the switch to more convenient natural gas, the market for fuel oil was greatly reduced. To achieve carbon capture and storage (CCS) on the scale envisaged in most low-carbon energy scenarios would require essentially recreating the current global gas or oil production capacity by 2050. The threat of human-induced climate change meant that instead of letting the evolution of energy sources be driven entirely by the market, another form of stimulus was needed. It was becoming increasingly clear that the group was adopting a position of lobbying against any consideration of action on climate. The challenge of climate change is something that no section of society can address on its own.
