No More Business As Usual For Oil And Gas Companies

There may not be a national consensus on how, or even if, the United States should deal with a changing climate, a state of uncertainty exacerbated by President Trump’s decision in 2017 that the country would not participate in the 2015 Paris Accord on climate change mitigation. However, it is increasingly clear that the conversation is not over. The public is becoming more skeptical of companies that produce fossil fuels, including oil, gas and coal, a trend seen most clearly in young people. That has implications not just for action to mitigate climate change but also for the industry’s ability to recruit workers to replace retiring baby boomers. A study commissioned by the advocacy group Union of Concerned Scientists and released last week found that 57% of Americans said oil, gas and coal companies bear at least some responsibility for the damages caused by global warming. They also said the companies should pay for at least a portion of the damage caused by carbon pollution, from rising sea levels to extreme weather events. The pollsters said that even in Texas, 56% of residents support holding the companies accountable for the costs of adaptation. That wasn’t a surprise. Energy companies, and specifically oil and gas companies, remain a major force in the Houston economy. Yet when the Hobby School of Public Affairs at the University of Houston, working with the Environmental Defense Fund, surveyed UH students in energy-related disciplines, they told us a company’s environmental stewardship will play a role in their decisions about employment...MORE