The head of one of the world's biggest oil companies has admitted that the threat of climate change makes him "really very worried for the planet".
"Sequestration is difficult, but if we don't have sequestration then I see very little hope for the world," said Lord Oxburgh. "No one can be comfortable at the prospect of continuing to pump out the amounts of carbon dioxide that we are pumping out at present ... with consequences that we really can't predict but are probably not good."
Mr Oakley said a gulf was opening between more progressive oil companies such as Shell, which invests in alternative energy sources including wind and solar power, and ExxonMobil, the biggest and most influential producer, particularly in the US.
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