Atmospheric CO2 is arriving other time at 400 ppm. Obviously last moths it was under mythic threshold but to follow the sawtooth graphic seems that the problem was overcome, but on the contrary graphic trend is growing in exponential. However as I related in “Are 400 ppm of CO2 the border to beginning the Armageddon, or not?” to pass the threshold doesn’t mean that climate begins a spiral of weather disasters. Deniers, in their crusade against the evidence in climate, have profit of a cool winter for beginning their ridiculous idea of Global Cooling. Global Cooling is possible but to put tones of CO2 in atmosphere isn’t a solution because Earth will be heating until CO2 and temperature will take other time the equilibrium; but in other hand high CO2 could do a rebound effect which will carry climate to the Ice Age (read “The day after Tomorrow”)
CO2 is growing and nobody does anything. The more powerful oil industry moves all of its influences for to stop any initiative to reduce emissions so every CO2 tone not emitted are barrels of oil not burned and dollars not charged. In a suicide attitude only moved for greed and ignorance, our economic power only thing in drill oil or carbon, and burned it obviously. Their solution in front the evidence of Global warming is deny it, and waste amount of money to disseminating information against to create doubt in the public opinion.
But economy crisis crash in half the fantastic business of Oil. Just before of crisis oil arrived at Extraction Oil Peak where prices are beginning at exponential price, but crisis stops demand and prices down. However Oil price isn’t following the market rules, production is modulate by demands as price never down, and in other hand governments subsidizes the purchase of it by the energy producers. Other action that impedes the market logical in oil is the purchase in future; oil that is extracted today was paying some years before so nobody wants any downing of prices because it will be the ruin. Oil price is artificial.
Oil madness is penetrating in all economic stamens. When every economic sector has problems to survive, money sees in oil (easy and testing business) one secure value and an opportunity to earn greats amounts of money. New systems to drill it have opened this business at new operators: Fracking, TAR… democratizes (as it somehow) the closed world of oil. But until today OPEC (Organization of the Petroleum Exporting Countries) has the production control, but the new operators in the business are out of its influence, and more of the new drilling zones are in countries until today costumers of OPEC, which see fantastic to break free the dependence with it. The consequence is the uncontrolled increase of stock. We would think that it down the prices but no; because the new drill system are less efficient than conventional and more expensive; so prices are up even in increase of stocks.
Summarize of all is an artificial price in one side and increase of stocks for other. First hold a fantastic profit of Oil business which attracts more money into this business; second generate a problem of storage. The more incongruent is how can’t see something that is physical? Well people that put money are in clean offices far of mountains of TAR. Oil and Coal (which is playing in this dangerous game) are only numbers, who invest in them, and they products generate high profit which is mixed with other financial products and finally they are including in the pension plan which is paying for you.
The hardening of the crisis (currently only improve financial returns) and prices high are reducing the oil consumption. In other hand the climate problem requires reducing the consumption of hydrocarbon and coal. But capitalism needs hard values with speeding growing as Oil and Coal which is leveraged sector; today carbon finances are far of its bases and disaster is close to exploit. Sometimes one planned action has jeopardized the whole world, but now we are in front of collective illusion that carries us to the same finish. The carbon bubble will explode sooner and it will have gone the current society.