A climate change that occurred in the past is a ‘particularly important guide to present-day concerns: a dramatic warming event that took place 55 million years ago (55 Ma). Comparison of the volume of carbon released to the atmosphere at 55 Ma and the volume we are now releasing ourselves strongly suggests that we are indeed facing a major global challenge. We are in danger of repeating that 55 million-year-old global warming event, which disrupted Earth for over 100,000 years. That event took place long before Homo sapiens was around to light so much as a camp fire.’

This imminent danger challenges the established order. Meeting this massive challenge will need the confluence of resolution and cooperation ‘between all sorts of tribes: academic, social, financial, industrial, political and national. This kind of cooperation was the real value of the 1997 Kyoto Protocol and is the hope for the crucial successor meeting in Copenhagen in 2009.’

The oil industry across the globe will need to rise to the challenge imposed by this recurring climate change and global warming event. ‘Emissions of greenhouse gases by the oil companies may be divided into those resulting from their own operations (a little over 10 per cent of the total), and the remaining quantity (approaching 90 per cent of the total) that is released by the use of their products by their customers.’

In fairness to oil companies, it should also be noted that they have, indeed, ‘made considerable efforts in recent years to control greenhouse gas emissions from their own operations, not necessarily to their commercial disadvantage.’ But a tremendous dilemma needs tremendous response, alteration, and mitigation. Oil companies can choose to remain as ‘carbon villains’ or turn themselves into ‘carbon heroes.’ The Copenhagen Climate Conference, more officially known as the United Nations Climate Change Conference, that will be held a few days from now will institutionalize the ways and means by which oil companies can undo some damage.

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Via Times Online