A sustainable society must depend upon renewable resources,
which oil cannot be. It must recycle nonrenewable resources,
and burned oil cannot be recycled. It needs to restore the base
of renewable resources — our forests, soils, cities and human
The news that ExxonMobil has just posted the highest profits in history should bring down to earth those congenital optimists who, for the last 20 years or so, have been claiming that the best way to do well is to do good. ExxonMobil got their record-breaking billions the old fashioned way: through high oil prices.
Oil giant Exxon Mobil yesterday reported the biggest profit in corporate history- some $36.1bn (£20bn) after tax for 2005.
The profit was on the back of soaring oil prices. The company's turnover - some $371bn - would make it the 17th biggest economy, just behind Russia but ahead of Taiwan or Sweden.
The obscene profit will be ammunition to those people who think there should be a wind-fall tax on big oil earnings at the moment. What do you think?
More on that story of Britain's stagnated climate change strategy. The Guardian reports how the strategy has "been paralysed for seven months by a dispute between two Whitehall departments."
So yesterday we find out that Blair says climate change is worse than previously thought - the greatest threat facing humanity. Today we read about the reality of government. The Liberal Democrat environment spokesman, Norman Baker, puts it quite nicely: "I fear there are some in government, especially in the DTI [Department of Trade and Industry] and in No 10, that are quite happy to postpone decisions on climate change. The longer