From: lessgovt@gmail.com   
      
   Exxon Mobil predicts global temperature increase over 2 degrees Celsius by 2050   
   By Lyric Aquino, Sept 5, 2023, Grist   
      
   Exxon Mobil projected that greenhouse-gas emissions and the efforts to keep   
   the planet’s temperature from rising beyond an increase of 2 degrees Celsius   
   by 2050 is destined to fail in a report released by the oil giant last week.   
      
   Oil and natural gas are projected to meet more than half of the world’s   
   energy needs in 2050, or 54%, because of their “utility as a reliable and   
   lower-emissions source of fuel for electricity generation, hydrogen   
   production, and heating,”    
   according to the Houston-based company.   
      
   The report stated carbon emissions stemming from burning fossil fuels and   
   energy consumption will drop to 25 billion metric tons in 2050, due to the   
   rise of renewable energy sources, decline of coal, and improvements in energy   
   efficiency. This is    
   expected to bring down energy consumption by 26% from a peak of 34 billion   
   metric tons projected sometime in the current decade. But despite that decline   
   in emissions, the worldwide carbon output is predicted to rise well above the   
   levels the United    
   Nations’ climate-science advisory body says would limit the effects of   
   climate change.   
      
   According to Exxon’s researchers, the world will see a 25% increase in   
   population that will drive an economy twice the size of today’s. That level   
   of growth is practically unprecedented: The report points out that it took   
   thousands of years for the    
   world to reach its first 2 billion people, which happened around 1930. Now the   
   planet, already home to 8 billion people, is projected to add 2 billion more   
   over the next 27 years.   
      
   “Fossil fuels remain the most effective way to produce the massive amounts   
   of energy needed to create and support the manufacturing, commercial   
   transportation, and industrial sectors that drive modern economies,” the   
   report said. ExxonMobil is    
   investing more money to increase oil and gas production than any other company   
   in the U.S., according to its website.   
      
   Additionally, global gross domestic product, or GDP, is expected to more than   
   double from 2021 to 2050, with developing nations growing at more than twice   
   the rate of developed countries. Between now and 2050, developing countries   
   will see GDP per capita    
   more than double, driving higher demand for energy.   
      
   “Meeting that demand with lower-emission energy options is vital to making   
   progress toward society’s environmental goals,” said the researchers.   
   “At the same time, failing to meet demand would prevent developing nations   
   from achieving their    
   economic goals and their citizens from living longer, more fulfilling lives.”   
      
   In order to achieve the targets outlined by the U.N.’s Intergovernmental   
   Panel on Climate Change and avoid the worst of climate change and natural   
   disasters, the world needs emissions to drop to 11 billion metric tons on   
   average by 2050, Exxon said.    
   The researchers also noted that the world’s current push to halt carbon   
   emissions by more than 25% by 2050 “is a testament to the significant   
   progress expected to be made.”   
      
   Currently, the oil company faces several lawsuits across the U.S. accusing it   
   of climate change deception, seeking billions in damages.   
      
   The oil company has said it supports the 2015 Paris climate accord but   
   maintains the world will have to keep consuming oil and natural gas to fuel   
   economic growth.   
      
   Exxon is investing $17 billion over a six-year span through 2027 in lower   
   carbon emissions technologies, including carbon capture and sequestration and   
   hydrogen. The company says these two technologies hold significant promise for   
   hard-to-decarbonize    
   sectors such as the steel, chemical, and cement industries.   
      
   Most of the funds are directed to reducing carbon emissions in-house and from   
   third-party operations. While Exxon has so far stayed away from developing   
   renewable sources, it expects wind and solar to provide 11% of the world’s   
   energy supply in 2050,    
   or five times today’s contribution.   
      
   https://thebulletin.org/2023/09/exxon-mobil-predicts-global-temp   
   rature-increase-over-2-degrees-celsius-by-2050/   
      
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