We know that fossil fuels must be left in the ground and that a zero carbon society will need to be powered substantially by renewable energy. We also know that fossil fuel companies are actually planning to scale up production and that the actions of governments and banks are helping to entrench fossil fuels further. These tensions are especially visible during COP26, for the UK and many other states.
How does the fossil fuel industry get away with this? The answer is that fossil fuel companies do not play by the rules of ‘the market’ as it is usually understood, but convert their massive economic power into political power and vice versa.
It’s no secret that fossil fuel companies are very active in lobbying. In fact, they don’t just lobby, but are deeply engaged in ‘upstream’ political activities. These include (allegedly) funding think tanks that shape a friendly media, helped by aligned groups promoting complementary industries like cars, roads and gas boilers. The fossil fuel industry benefits all over the industrialised world from this political landscape.
