Exxon-Mobil and Adam Smith

The New York Times (2017-08-22) had a long article on how Exxon scientists had predicted climate change but advertised that the science was unsettled.  See "What Exxon Mobil Didn't Say", https://www.nytimes.com/2017/08/22/opinion/exxon-climate-change-.html.

Many employees and other shareholders are suing Exxon-Mobil for hiding the potential loss of assets as less fossil fuels are used.

I submitted the following quote from Adam Smith:

"The proposal of any new law or regulation of commerce which comes from this order [those who live by profit], ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it."
- Adam Smith, Wealth of Nations, 1776

I was surprised that it was approved almost immediately after I posted it.  Often my postings of this quote are ignored.   See http://www.nytimes.com/2017/08/22/opinion/exxon-climate-change-.html?comments#permid=23840021.

Global warming caused by warming oceans?!?

A recent argument I’ve seen is that it is not carbon dioxide that is causing global warming but warmer oceans.  See http://www.foxnews.com/opinion/2017/06/23/rick-perry-got-tongue-lashing-from-american-meteorological-society-did-deserve-it.html.

Although the author, Roy Spencer, is a meteorologist, I question his attacking climate scientists for using global warming to get funding.  Spencer defends Energy Secretary Rick Perry for stating that the “control knob is the ocean waters and this environment we live in."

Ocean waters are responsible for global warming?  How do ocean waters get warmer?  Increased under-ocean volcanic activity?  Hotter sun?  Or maybe it is hotter air, caused by carbon dioxide not letting warmer air dissipate!

Could it be that Rick Perry has ties to oil companies?  See http://www.pbs.org/newshour/rundown/perry-oil-industry-energy-department/.

Note also that Spencer is a meteorologist, not a a climatologist.

Climate change is real; Exxon Mobil says so

Exxon is not going to stop marketing fossil fuels soon, but it does admit that climate change is real.  See “Our views and principles for managing climate change”.

The page includes:

“Effective strategies must include putting policies in place that start the world on a path to reduce emissions while recognizing that addressing GHG emissions is one among other important world priorities, such as economic development, poverty eradication and public health.”

Recognizing that there will be rules and regulations, they would like them to be effective, to scale, and cost-efficient.  Among other considerations, they prefer a carbon tax over cap-and-trade.

Unfortunately, I doubt these admissions about emissions by Exxon Mobil will still the climate-change deniers in print, on the air, or in Congress.