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Prof. Aseem Prakash on Forbes, "Oil Industry’s Fluctuating Fortunes: Recent Wins And Losses In Climate Policy"

Submitted by Stephen Dunne on June 2, 2021 - 9:12am

Prof. Aseem Prakash and colleague Prof. Nives Dolšak write on the Forbes web site, "Climate groups have scored impressive wins over oil companies. A small hedge fund...successfully lead a shareholder revolt to get two directors, who want more aggressive climate action, elected to ExxonMobil’s board."

"These wins have created a lot of excitement. Some ask whether climate policy has reached a “social tipping point,” a self-reinforcing contagion process that will decarbonize the economy. Tipping points can be activated by interventions such as divesting from fossil fuel assets or exposing the moral failings of a fossil fuel economy, both of which are reflected in the recent developments in Chevron, Shell, and ExxonMobil."

"The International Energy Agency recommends a complete halt in new fossil fuel projects to limit temperature increases to 2 degrees Celsius. Should then Joe Biden, America’s climate President, bless new investments in oil exploration or pipelines?"

Please link here for the full article.