Decarbonization has been identified as necessary to preventing catastrophic climate change, creating a dilemma for the global oil industry. This article examines the industry's reaction to this dilemma and focuses on its historical response to market and governmental regulatory pressure. The article argues that differing national climate policies provoked some oil companies to develop proactive decarbonization strategies. However, the continued growth of fossil fuel demand, the industry's vested interests, and the voluntary nature of climate governance have resulted in the industry taking very little meaningful action to achieve decarbonization.

中文翻译：

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气候变化？历史视角下的石油工业与脱碳

脱碳已被确定为防止灾难性气候变化的必要条件，这给全球石油工业造成了两难境地。本文考察了该行业对这一困境的反应，并重点关注其对市场和政府监管压力的历史反应。文章认为，不同的国家气候政策促使一些石油公司制定积极的脱碳战略。然而，化石燃料需求的持续增长、行业的既得利益以及气候治理的自愿性质导致该行业很少采取有意义的行动来实现脱碳。