Companies like Shell Oil really need to give their eyes a rub and see that a world with serious constraints on greenhouse gas emissions is not a possible future, but an eventual reality.
Right now, oil companies are investing billions in long term plays in very carbon intensive fuels, like Canada's oil sands, while at the same time there are more and more signs that strict regulations on such operations are on the near horizon.
You don't need to look much further than the years of delays on the Keystone XL pipeline to see that governments are starting to second guess these big cash layouts on climate-risky projects.
Or take for instance, the federal court ruling last week that halted a proposed coal mining operation in Colorado stating that the “social costs” of contributions the mine would make to worsening impacts of climate change in the future were not taken into consideration.
This ruling on the grounds of future social costs should be a 'canary in the coal mine' wake-up call for companies still considering investing big dollars in long-term carbon-intensive projects.