Former Oil Company Chief: Ban Gas Guzzlers
By Michelle Krebs February 4, 2008The former chairman of Anglo-Dutch oil giant Royal Dutch Shell has called on the European Union to ban gas-guzzling cars, the BBC reported over the weekend.
"Nobody needs a car that does 10-15 mpg (miles per gallon)," Mark Moody-Stuart was quoted as saying. "We need very tough regulation saying that you can't drive or build something less than a certain standard. You would be allowed to drive an Aston Martin â but only if it did 50-60 mpg.'"
Shell chairman between 1998 and 2001, Moody-Stuart, currently chairman of mining group Anglo American, added the EU was too lax with motor manufacturers and insisted wealthier people must play their part in tackling climate change.
His remarks came only a week after Royal Dutch Shell reported annual profits of nearly $28 billion, a record for a UK-listed company and breaking Shellâs own record set in 2006.
Similarly, Exxon Mobil Corp. reported last week net income of $40.61 billion, a new record fo any U.S. company. The energy companyâs fourth-quarter profit of $11.66 billion, set a new company record.
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There is a very good reason why Mark Moody-Stuart is the former, instead of the current, chairman of Royal Dutch Shell, and this is it. Requiring all cars to get 50-60 mpg would accomplish...what exactly? There is no question that it would drastically limit consumer choice, dramatically hike automobile prices and undermine automobile safety by the severe weight reductions that would be required. But there is no real evidence that such a measure would stop climate change, or even do anything positive to fight it. It isn't as if he's doing his own industry or anyone else's any favours by promoting such a wild, irresponsible plan. Alas, the European Union may just be irresponsible enough to seize on his mad scheme, but that doesn't mean that it will do any good for consumers, industry, or even the environment. It's not even likely that environmentalists will thank him for it, since they decided long ago that the oil industry was Public Enemy Number One, no matter what it does. His is one idea that belongs in the waste dump of history.
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