"…the giant energy companies are making so much money right now that they can’t stop gorging themselves. …

Everyone in the business is swimming in money.   Still, they could theoretically invest all that cash in new clean technology or research and development for the same. As it happens, though, they’ve got a deeper problem, one that’s become clear only in the last few years. Put briefly: their value is largely based on fossil-fuel reserves that won’t be burned if we ever take global warming seriously.”  

Great analysis by Bill McKibben of why the fossil fuel industry is locking the world into an extremely high carbon future.