Shell VP says global CO2 policy is a necessity

A global CO2 emissions policy is "urgently needed" if the world is to avoid political issues in the future, according to Shell.

Late last week, during a presentation in Australia, Shell vice-president of global business environment, Jeremy Bentham, warned that the goal of keeping global warming below two degrees Celsius will not be met if nations continue to "scramble" for short-term energy solutions. Bentham warned:

Continued divergence between constituencies on CO2 policy is politically unsustainable. Such divergence cannot grow indefinitely and this sets the scene for political turbulence ahead. CO2 pricing and transparency, market-based solutions for CO2 reduction and a focus on carbon capture and storage as a key abatement technology are things that are urgently needed.

Recently, Shell updated its report (originally published back in 2008) on energy demand and supply scenarios. The updated report says that embracing natural gas could be the "largest, fastest and cheapest way to reduce cumulative emissions in the crucial next ten years." However, the report asserts that unless a concise strategy is developed, the world could, "end up burning more coal and more gas at the same time." That's something we don't urgently need.

[Source: The Sydney Morning Herald]