Oooooh!!! Big Oil Pledges (insert Dr. Evil voice) $1 Billion On Climate (Mostly CCS)

[hatrack]

Some of the world's biggest oil companies, including Saudi Aramco and Royal Dutch Shell, pledged on Friday to invest $1 billion to develop climate-friendly technologies as a global deal to wean the world off oil came into force.

The Oil and Gas Climate Initiative (OGCI), which also includes Total, BP, Eni, Repsol, Statoil, CNPC, Pemex and Reliance Industries, launched the Climate Investments fund which will invest in technologies to reduce carbon emissions but which will also help an increase gas use.

The companies pledged to use a large share of the $1 billion for speeding up carbon capture, use and storage (CCUS) in gas-fired power plants and toward reducing leakages of methane, one of the most polluting greenhouse gases.

EDIT

The investment is nevertheless dwarfed by the joint annual spending of the member companies, even as they battle one of the longest downturns in the sector's history. Shell, Total, BP, Statoil, Repsol and Eni are expected to spend nearly $100 billion in 2016.

EDIT

http://www.climatecentral.org/news/big-oil-pledges-1-billion-to-fight-climate-change-20848

[RedCloud]

1. One trillion to kill us and one billion to deceive us.

What's wrong with this pictures.

Fight back for Planet Earth!