Without oil, would we starve?

Without oil, we would starve.

Posted by: Frank Upton | 22 Apr 2008 18:50:14 

A bit harsh on BP. It's fundamental responsibility is to its shareholders, and while the price of oil is so high it would be negligent of the board not to try and extract as much profit from this business as possible given BP's recent performance. Simply bashing BP is hardly a progressive step. By all means blame the Canadian goverment for encouraging BP's investment in oil sands, but expecting BP to sacrifice its own shareholders' interests seems a little optimistic at best. Or blame oil producers for continuing to pump record amounts of oil that will be burned no matter what moral trail BP is ever able to blaze, BP is just an easy target both for the protestors and this journalist.

Posted by: Neil | 18 Apr 2008 21:40:52

In response to the first comment, yes it is probably indisputable that without oil, right now, many of us would indeed starve, but that does not mean that oil is the only possible future source of energy. Far from it. Everyone accepts that oil will run out one day - or at least become so uneconomic to extract that it is no longer viable as a major fuel source. So surely the question is how we manage the transition to alternative fuels - a transition which is inevitable although it could be made more or less wrenching depending on our approach. It will undoubtedly require an unprecedented joint effort between governments, ordinary people and businesses.

Surely the world's biggest energy companies have a responsibility to play a major role in this process too? If, as Neil appears to suggest in the second comment, oil companies have no responsibility to anyone except the narrow interests of their shareholders, then that would appear to be a very sombre scenario indeed. Bashing BP on its own may not achieve anything, but encouraging the relatively small number of global organisations with the wealth and expertise to invest in low carbon technologies seems to be one of the few solutions to the world's current predicament that exists.

Comments

[michael]

people should remember that oil is not merely used for fuel, but also in the manufacture of goods, chemicals etc etc etc etc etc (yes, THAT many etc's!)

energy crisis? solvable, eventually & under duress. oil as a manufacturing material? more difficult to replace