The news that a group of European oil majors wants to open negotiations with governments about the creation of a global carbon tax has all the hallmarks of a public relations campaign.
In a sign of the rising pressure on fossil fuel companies ahead of a UN meeting in Paris to seal an international climate deal, the chief executives of groups including Royal Dutch Shell and Britain’s BP have sought direct talks with governments on creating a global carbon pricing system.
“We owe it to future generations to seek realistic, workable solutions to the challenge of providing more energy while tackling climate change,” the executives say in a letter to the FT revealing their plan.
In the crony capitalist European capitals, kudos can be won by playing along with the green agenda, in the clear knowledge that the costs of doing so will be nil. The chances of the developing world shunning fossil fuels in favour of letting their people continue to die prematurely are slim to say the least.
Stateside, meanwhile, they are built of sterner stuff.
Rex Tillerson, chairman and chief executive of Exxon, said the company would not “fake it” on climate policy.
“We’re not going to be disingenuous about it. We’re not going to fake it,” he told shareholders at the company’s annual meeting last week.
Which is the wiser course of action for an oil company CEO is hard to tell, but at the end of the day we are only talking about public relations.