Yesterday (Mar. 9), the Houston Chronicle published an op-ed by Shell Oil CEO Marvin Odum titled, Why Shell Oil Co. and I are staying in the U.S. Climate Action Partnership. It’s pretty thin on substance. Kinda reminds me of that ’80s film, “The Unbearable Lightness of Rent-Seeking.”

Maybe Mr. Odum got his marching orders from The Hague (Netherlands), or maybe he really believes cap-and-trade is good for the oil (and natural gas) business. These are strange times. Confusion abounds in high places.

In this post, I provide a running commentary on Odum’s column.  Odum’s verbiage is indented; my comments follow in bold type. 

Today, Washington is having the wrong energy and climate debate, and the future of the U.S. economy may be the biggest casualty.

A rather amazing statement, considering that the party of cap-and-trade controls the White House and the leadership of both the House and Senate. …

What a difference 12 months makes. Almost exactly one year ago, the popular, newly minted president, Barack Obama, was telling Congress that he wanted “legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America.”

The Democrats, fully confident of their new president and their grip on both houses of Congress, were certain that they could pass yet another big energy bill that would finally push hydrocarbons off their pedestal and replace them with wind turbines, solar panels, and every other type of alternative energy.

An Unstimulated Economy

But a lot has happened since Obama delivered his first State of the Union address. The global economy has continued to show lackluster growth. And perhaps most important: unemployment rates in the U.S. remain stubbornly high and are expected to stay high for at least the next two years.…

With little fanfare, an earthquake has rippled through the United States Climate Action Partnership (USCAP). Three significant members, two of them being integrated oil majors, are no longer planning the cap-and-trade (aka, cap-and-tax) game. And if energy affordability and reliability is a metric, expect more companies to bolt. Social corporate responsibility, anyone? After all, there is no climate gain from a unilateral U.S. cap by the alarmists’ own math.

Here is the background. According to its website, USCAP is “a group of businesses and leading environmental organizations that have come together to call on the federal government to quickly enact strong national legislation to require significant reductions of greenhouse gas emissions.” Others of a less charitable bent would characterize them as central headquarters of the U.S. Climate-Industrial Complex, a group of corporate rent-seekers (the bootleggers), made whole by the environmental scaremongers (the Baptists) hell-bent on slapping the United States into a carbon rationing scheme.…

Posts at MasterResource have highlighted the Left’s growing Civil War on climate policy. James Hansen, in particular, has called for the rejection of (Enronesque) cap-and-trade, as well as for the failure of the Copenhagen approach to climate policy.

More recently, the Hard Left (Bill McKibben, John Passacantando, etc.) has heated-up over Joseph Romm’s dismissal of cap-and-dividend as “cap-and-divide.” Here’s the comment of longtime Greenpeace head Passacantando on Romm’s post:

Joe, as a longtime reader of your blog I find your hostility towards an innovative approach perplexing …. I don’t think a legislative alternative to what appears to be a dead approach … is in any way divisive. Cap and dividend (the CLEAR Act) is a smart policy alternative, a real Plan B, filling in the current vacuum.

Romm would have none of it (remember, he works for the ObamaTank, a.k.a…