'Unless we put the brakes on the production and export of oil and gas at home, our investments in renewable energy will do little to change the course of climate history.'
—a controversial technology that, in theory, would allow us to keep burning fossil fuels, given its dubious promise to capture emissions and store them underground. In practice, however, CCS has only been used to force more oil out of the ground—a euphemism known as 'enhanced oil recovery. U.S. oil majors have lobbied hard for CCS for good reason: It is their lifeline to the future.
Exporting climate change is consistent with the industry's overall gameplan. As electric vehicles disrupt and displace oil demand for transportation, the industry has pledged to bring the developing world out of energy poverty. That's right: The U.S. oil and gas industry is gearing up to use fossil fuels to develop parts of the world that have been hardest hit by climate change, even though fossil fuels are the primary driver of climate change.
Much of the progressive commentary around the new climate law concedes that it has shortcomings, yet concludes that it is better than nothing.
Mr. Drake helped bring the world into modernity with his first little oil well, on August 27, 1859. He deserves our thanks. But every innovation runs its course. Now it's time to plug the wells and move on.
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