Ministers say EU should stop investing in Oil, Gas and Coal Watch

Napp
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Whilst this delightful show of 'wokefullness' is very sweet and all that it does seem to be surprisingly ignorant and shortsighted. I mean oil and gas, if not coal, are of pivotal importance to the countries of Europe and their energy security (never mind the basics such as making medicines, running cars, power etc.).
To be frank this comes across as little more than a fit of moral outrage by mentally deficient politicians, or.. politicians doing little more than pandering to the yobos of XR.


The European Union should halt funding of oil, gas and coal projects, EU finance ministers said, potentially cutting €2bn (£1.7bn) of yearly investments.
The finance ministers called upon the European Investment Bank (EIB), the EU's financing department, to cut its funding.
Previously, they had only called for coal projects to be dropped.
Since 2013, the EIB has funded €13.4bn of fossil fuel projects.
Last year it funded about €2bn worth of projects.
Some gas projects may be excused after Hungary suggested that Croatia and Ukraine might otherwise rely on Russia, Reuters reports, citing confidential documents.
Gas projects are relatively common among EU member states as they are seen as a cleaner alternative to coal and oil, and more reliable than renewable sources during winter.
Board decision

The joint statement from ministers requested that the EIB and other international financing organisations like the World Bank should "phase out financing of fossil fuel projects, in particular those using solid fossil fuels, taking into account the sustainable development, and energy needs, including energy security, of partner countries".
Protests against fossil fuels have intensified in recent years, and activists who are members of the Extinction Rebellion group are demanding governments declare a climate emergency and want the UK to commit to reducing carbon emissions to net zero by 2025.
Internationally, Extinction Rebellion estimates an additional 400 of its activists have been arrested since 31 October 2018, including about 70 in New York City.
The finance minsters' request will need to be agreed by the EIB board, which meets on 14 November.
https://www.bbc.com/news/business-50350535
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Good bloke
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I wonder if someone has mentioned this to the SNP.
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DiddyDecAlt
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They aren't wrong, the more we can run on electricity and generate clean power the less reliant we will become on the Middle East and other less savoury oil producers.

Obviously we are decades away from total self reliance but we have to start somewhere.
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AJ126y
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(Original post by Napp)
Whilst this delightful show of 'wokefullness' is very sweet and all that it does seem to be surprisingly ignorant and shortsighted. I mean oil and gas, if not coal, are of pivotal importance to the countries of Europe and their energy security (never mind the basics such as making medicines, running cars, power etc.).
To be frank this comes across as little more than a fit of moral outrage by mentally deficient politicians, or.. politicians doing little more than pandering to the yobos of XR.


https://www.bbc.com/news/business-50350535
No, its shortsighted to turn the planet you have to live on into a "hothouse earth".
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Napp
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(Original post by AJ126y)
No, its shortsighted to turn the planet you have to live on into a "hothouse earth".
Nah.
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Napp
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(Original post by DiddyDecAlt)
They aren't wrong, the more we can run on electricity and generate clean power the less reliant we will become on the Middle East and other less savoury oil producers.

Obviously we are decades away from total self reliance but we have to start somewhere.
The problem being we will always be reliant on said producers, energy is just one of the moreself evident uses but considering oil is one of the foundations of modern medicine, well.
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DiddyDecAlt
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(Original post by Napp)
The problem being we will always be reliant on said producers, energy is just one of the moreself evident uses but considering oil is one of the foundations of modern medicine, well.
I had not considered the medicine element.
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anarchism101
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(Original post by Napp)
The problem being we will always be reliant on said producers, energy is just one of the moreself evident uses but considering oil is one of the foundations of modern medicine, well.
One way or another, we have to wean off being reliant on fossil fuels, or climate change will find a way of cutting us off anyway. We can argue about exactly when we have to wean off by, and how much longer avoiding it is safe, but at some point we do.
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AJ126y
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(Original post by Napp)
Nah.
Erm yeah actually.
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Napp
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(Original post by AJ126y)
Erm yeah actually.
Erm Nah.
(Original post by anarchism101)
One way or another, we have to wean off being reliant on fossil fuels, or climate change will find a way of cutting us off anyway. We can argue about exactly when we have to wean off by, and how much longer avoiding it is safe, but at some point we do.
We can wean off of it to a point but the fact remains we will need fossil fuels for the next century at the absolute minimum.
A) we have no viable alternate for cheap energy a present, renewables are after all fickle and still in no position to replace gas and oil
B) As i have said, oil is absolutely essential in many things other than simply setting on fire to make electricity. Be it plastics (an essential part of our lives - i imagine your computer is made from them...), medicines, chemicals, fuel for transport etc.
The fact is that without completely upending global society fossil fuels will retain a salient importance for decades//centuries to come and nothing is going to change that.
I say this as someone who believes fully in the threat of climate change but also as someone who is a realist. I for one am not going to agree to the preposterous abolition of petroleum products which are critical not only to our way of life but to our very health i'm afraid and the bulk of society would agree with that...
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MonkeyChunks
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(Original post by Napp)
Whilst this delightful show of 'wokefullness' is very sweet and all that it does seem to be surprisingly ignorant and shortsighted. I mean oil and gas, if not coal, are of pivotal importance to the countries of Europe and their energy security (never mind the basics such as making medicines, running cars, power etc.).
To be frank this comes across as little more than a fit of moral outrage by mentally deficient politicians, or.. politicians doing little more than pandering to the yobos of XR.


https://www.bbc.com/news/business-50350535
Good job we are leaving. The EU is committing economic suicide with this CO2 BS. We can save our economy, jobs, prosperity by getting out of this madness.
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Napp
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(Original post by MonkeyChunks)
Good job we are leaving. The EU is committing economic suicide with this CO2 BS. We can save our economy, jobs, prosperity by getting out of this madness.
I take it you don't know anything about how Westminster functions?
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AJ126y
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(Original post by Napp)
Erm Nah.

We can wean off of it to a point but the fact remains we will need fossil fuels for the next century at the absolute minimum.
A) we have no viable alternate for cheap energy a present, renewables are after all fickle and still in no position to replace gas and oil
B) As i have said, oil is absolutely essential in many things other than simply setting on fire to make electricity. Be it plastics (an essential part of our lives - i imagine your computer is made from them...), medicines, chemicals, fuel for transport etc.
The fact is that without completely upending global society fossil fuels will retain a salient importance for decades//centuries to come and nothing is going to change that.
I say this as someone who believes fully in the threat of climate change but also as someone who is a realist. I for one am not going to agree to the preposterous abolition of petroleum products which are critical not only to our way of life but to our very health i'm afraid and the bulk of society would agree with that...
If we're still using them for the next century then we're basically doomed tbh. In any case I think it's less a case of we're technically unable to do it and more a case of there being no political will to do it tbh.
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Napp
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(Original post by AJ126y)
If we're still using them for the next century then we're basically doomed tbh. In any case I think it's less a case of we're technically unable to do it and more a case of there being no political will to do it tbh.
Call me a blind optimist but i still have my doubts that earth will become a smoldering ruin simply on the back of hydrocarbons, it still seems more a case of it impinging on peoples quality of life i.e. more frequent and severe storms etc. etc.
At any rate i do agree with your last sentiment on the matter about a lack of political will although id say thats only a 1/3 of the problem with the other being money (oil and gas is worth rather a lot after all) and the fact people themselves are not prepared to change. I mean those adorable little XR protestors were all dressed in clothes that likely included plastic elements, use phones and laptops, drove to the protest - aside from smacking of double irony it shows that even the most diehard protesters arent willing to change then why would anyone else?


Never mind the truism that a problem delayed is a problem denied.
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z-hog
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Who are these 'finance ministers' then, do they come from the same place the 11,000 scientists did?
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MonkeyChunks
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(Original post by Napp)
more frequent and severe storms
Lindzen, climatologist, says otherwise. CO2 warming affects cold paces and period more, since it acts by the retention of energy during the cold part of the day, so the poles will warm more than the equator.

Lindzen says this reduction in temperature gradient, equator to pole will lead to less storminess as there is less energy involved.
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Napp
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(Original post by MonkeyChunks)
Lindzen, climatologist, says otherwise. CO2 warming affects cold paces and period more, since it acts by the retention of energy during the cold part of the day, so the poles will warm more than the equator.

Lindzen says this reduction in temperature gradient, equator to pole will lead to less storminess as there is less energy involved.
One person? Thats the best you can do?
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