To boil it down for you : Oceans are warming because they can no longer shed heat through our atmosphere like before. They can be 5 degrees Celsius warmer than before and in places you will die of heat exhaustion if you swim in it too long. Today.
The economic respons is to retreat, to forget about it, go elsewhere, harvest, sell, destroy something else. Humanity does not have that luxury. Hot oceans are deadly to its ocean life, they are causing more sever storms and are also making land temperatures much higher, up to 12 degrees in the Horn of Africa. Today.
The Economy is Paralysing Action
Oil companies knew this was coming, we are here now. We have to find a way to deal with it. The problem we see with this is that every activity of nearly anyone in our world is immediately captured in a business model for profit if we show we really want to do them. This makes everything worth doing maximally expensive. It also makes it so we don’t do what is not profitable, and I have observed financial institutions hide, disappear, patent and own ideas that where impossible to make expensive or profitable for them. Carbon capture is a victime, Carbon trading is a victim of that. Carbon sequestration the same thing. It is not a problem to supress these things for the parties involved, because they don’t care about anything but money and control.
We need solutions that are ‘extraeconomic’ or ‘roboeconomic’. Ones that use initial resources but then only renewables or their own organic growth, maybe use waste or some plentifull resource, but not anything that has to be shipped across the globe, made in factories. At the same time the product will likely be valuable in today’s economy. Be it plastic, some kind of oil (to capture Carbon) or pure carbon (soot like or graphite). The economy and banks will come for it, to sell it and consume it.