{"id":398986,"date":"2025-08-30T20:36:23","date_gmt":"2025-08-30T18:36:23","guid":{"rendered":"https:\/\/climatescience.press\/?p=398986"},"modified":"2025-08-30T20:36:25","modified_gmt":"2025-08-30T18:36:25","slug":"exxon-says-oil-and-gas-will-still-power-the-global-economy-well-into-2050","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=398986","title":{"rendered":"Exxon says: oil and gas will still power the global economy well into 2050"},"content":{"rendered":"\n
\"ExxonMobil<\/figure>\n\n\n\n

<\/p>\n\n\n\n

ExxonMobil has decided it\u2019s time to play teacher. In its freshly minted Global Outlook, the U.S. supermajor offered a chapter called \u201cLessons from Europe\u201d\u2014and the grading isn\u2019t pretty. <\/p>\n\n\n\n

The EU\u2019s climate policies, Exxon argues, are a cautionary tale of what happens when governments push through decarbonization with heavy regulation and magical thinking. The OilPrice.com<\/a> has the story.<\/em><\/strong><\/p>\n\n\n\n

The report claims that Europe\u2019s \u201chigh-regulation, high-cost\u201d climate crusade has hobbled industry, pushed up energy prices, and weakened public support for the very clean tech needed to hit net-zero goals. <\/p>\n\n\n\n

In other words: fail, fail, and fail again.<\/p>\n\n\n\n

Chris Birdsall, head of Exxon\u2019s economics and energy division, told reporters the company isn\u2019t saying the transition shouldn\u2019t happen\u2014it\u2019s just saying Europe botched the homework. <\/p>\n\n\n\n

\u201cYou need to be smart about it,\u201d he quipped, warning that politicians sold the idea that renewables would mean cheaper energy, when in reality the bill was always going to come in high. <\/p>\n\n\n\n

Transition periods can stretch 30 years, he noted, and low carbon still costs a fortune compared to good old hydrocarbons.<\/p>\n\n\n\n

Read the full story here<\/a>.<\/em><\/strong><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

ExxonMobil has decided it\u2019s time to play teacher. In its freshly minted Global Outlook, the U.S. supermajor offered a chapter called \u201cLessons from Europe\u201d\u2014and the grading isn\u2019t pretty.<\/p>\n","protected":false},"author":121246920,"featured_media":398989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691819173,691818618,691837634,691820021,691820814,691818154,691819148,691819094],"class_list":["post-398986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-decarbonization","tag-energy-transition","tag-eus-climate-policies","tag-exxon","tag-hydrocarbons","tag-net-zero","tag-oil-and-gas","tag-renewable-green-energy","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/08\/AQOJBSdkz1AQ7AQVGRUH7vSsMcEq57tpwDsiUDyQpy0PZ69A339wdkqovdii-qeYwukibJeG7q2d2y0Qk8bIQSgeksy0VUeSj7VvtaxiWxQRuVpTMKOG4sTdBRtSS2IGDCdHy8o9C6psXGcPs9iYq0RAsntM.jpeg?fit=1280%2C1280&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1FNg","jetpack-related-posts":[{"id":247083,"url":"https:\/\/climatescience.press\/?p=247083","url_meta":{"origin":398986,"position":0},"title":"ExxonMobil Cans Algae (greenwash failure)","author":"uwe.roland.gross","date":"03\/06\/2023","format":false,"excerpt":"Biofuel is out, leaving carbon capture and storage (CCS) as the leave-us-alone, we-are-doing-our-part \u201cgreenwashing\u201d strategy at ExxonMobil (see tomorrow\u2019s post).","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-247.png?fit=1200%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-247.png?fit=1200%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-247.png?fit=1200%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-247.png?fit=1200%2C600&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/03\/image-247.png?fit=1200%2C600&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":279322,"url":"https:\/\/climatescience.press\/?p=279322","url_meta":{"origin":398986,"position":1},"title":"\u2018ExxonKnew\u2019: More Correction","author":"uwe.roland.gross","date":"09\/18\/2023","format":false,"excerpt":"A sober look at the \u201cExxonKnew\u201d campaign reveals an anti-fossil-fuel agenda inspiring a myopic view of the company\u2019s old investigations into carbon dioxide (CO2).","rel":"","context":"In \"anti-fossil-fuel agenda\"","block_context":{"text":"anti-fossil-fuel agenda","link":"https:\/\/climatescience.press\/?tag=anti-fossil-fuel-agenda"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/image-552.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/image-552.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/image-552.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/image-552.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/image-552.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":239385,"url":"https:\/\/climatescience.press\/?p=239385","url_meta":{"origin":398986,"position":2},"title":"New Harvard Study Proves Exxon Scientists Far Superior at Predicting Climate than the IPCC or James Hansen","author":"uwe.roland.gross","date":"01\/13\/2023","format":false,"excerpt":"I\u2019m sure Russell Cook will have lots to say about this study. 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Emphasis mine below.~cr","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00ffa71966261629.5d3a654be108c.jpg?fit=1200%2C877&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00ffa71966261629.5d3a654be108c.jpg?fit=1200%2C877&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00ffa71966261629.5d3a654be108c.jpg?fit=1200%2C877&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00ffa71966261629.5d3a654be108c.jpg?fit=1200%2C877&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/00ffa71966261629.5d3a654be108c.jpg?fit=1200%2C877&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":407653,"url":"https:\/\/climatescience.press\/?p=407653","url_meta":{"origin":398986,"position":3},"title":"Exxon Is Right Again, Bloomberg, Oil and Gas Will Be Needed for Decades to Come","author":"uwe.roland.gross","date":"10\/11\/2025","format":false,"excerpt":"A recent article from Bloomberg, carried by Rigzone, describes Exxon\/Mobil Corporation\u2019s (Exxon) plan to continue investing in and developing oil and gas resources well into the future. This is welcome news, as Exxon is right that oil and gas will be needed for a very long time, not just for\u2026","rel":"","context":"In \"Bloomberg\"","block_context":{"text":"Bloomberg","link":"https:\/\/climatescience.press\/?tag=bloomberg"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPR-6_Qe9fYyTdjxY83gi2yuzoxGy3Gyj1HHjOVw_7TpTojQl-UY6IKyMJs_wTxg0UpLJILE-qnAqtLlAiz3B7sEYoVlpmdupycM3yrfYUskzsvREu-Sr7t89s02s8q-1.jpeg?fit=1200%2C671&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPR-6_Qe9fYyTdjxY83gi2yuzoxGy3Gyj1HHjOVw_7TpTojQl-UY6IKyMJs_wTxg0UpLJILE-qnAqtLlAiz3B7sEYoVlpmdupycM3yrfYUskzsvREu-Sr7t89s02s8q-1.jpeg?fit=1200%2C671&ssl=1&resize=350%2C200 1x, 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