The Fossil Fuel Industry has known about man-made emissions and climate change since the late 1970s. Exxon Mobil, for example, has involved itself in a highly controversial campaign, coined #ExxonKnew, because the company found evidence of anthropogenic climate change but hid it from the public eye. Even worse, many pursued efforts of deception by largely contributing to the widespread doubts of climate change. These corporations have known about global warming caused by the unsustainable extraction of their products— oil, coal, and natural gas— but have done worse than nothing.
The common denominator to the motives behind such deceitfulness is money. This corruption has fueled efforts of suppressing evidence of climate change for decades. The problem lies in the choice to value the economy over the environment— similar to the Tragedy of Commons in terms of selfish gain, but privatized. While humans tend to regard themselves as separate or above nature, the economy and environment are interconnected. In fact, scientists predict that in the next decades to come with climate change, we will experience a global recession. It is essentially illogical to argue that saving the planet will hurt their economy.
One of the worst effects of the Fossil Fuel Industry's corruption is lobbying that occurs in politics/ government affairs. Lobbying is the act of attempting to influence the actions, decisions, or policies of officials or legislators, and in this context monetarily. Companies such as Shell and Chevron spend up to $53,000,000 annually on climate lobbying. The consequences of this are obvious. Many modern day politicians are in essence paid to disregard climate change as a "Chinese hoax" or simply not allow legislation to pass. This money in politics halts any actual actual large scale action to be done. Policies that are tied to the Paris Agreement are not supported because of such companies, and as a result legislation and change is obstructed.
As far as solutions go, economic incentives seem to be the only means to resolve underlying greed and corruption. For example, the 1990 Clean Air Act prompted pollution trading. This meant that companies with higher levels of emissions than were allowed could purchace "passes" from companies that released emissions lower than the cap. This not only balanced the pollution levels but also incentivized companies to lower emissions by being energy efficient so they could save the costs of the "passes." Similarly, a recent trend of Carbon pricing has entered the economic realm. If people are simply going to care about economic gains and profits over the environment, then the only way to combat it is through economic means itself.
Sources:
https://www.nytimes.com/2017/08/23/climate/exxon-global-warming-science-study.html
https://www.ucsusa.org/resources/holding-major-fossil-fuel-companies-accountable
https://www.forbes.com/sites/niallmccarthy/2019/03/25/oil-and-gas-giants-spend-millions-lobbying-to-block-climate-change-policies-infographic/#42384b087c4f
Questions:
What are solutions to lobbying and money in politics?
What are some modern day examples of environmental policy that should get passed?
How should we hold these oil companies accountable?