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View Diary: Carbon Bubble will plunge the world into another financial crisis says report (31 comments)

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  •  there is no way to untangle ourselves (1+ / 0-)
    Recommended by:
    cynndara

    without causing a massive, wholesale shock to the economic system.

    These companies are too integrated into our economy to be removed cleanly. Too many bets have been made on their continued profitability, and other bets have been made on those bets, and still others made on those...

    There is no way to shrink them at a manageable rate that will allow us to smoothly transition to a zero-carbon economy. It's like trying to replace one's entire diseased circulatory system at once.

    Divestment is a good way of raising consciousness and as a first step towards getting people to be active in climate issues. But let's not be under any illusions: it will not prevent the carbon crash. Too much money has already been sunk into it; twenty years of decisions regarding capital allocations and infrastructure investment have already been locked in by these fossil fuel companies and if they bail now all that money will go to waste and their projected profits will vanish and they will be out on the street looking for a job, like the rest of us. They're not going to let that happen.

    They won't slit their own throats, and on top of that, they own every government on earth. They will not go down without a fight. Appealing to sanity won't work, because they're not sane. Reasonable arguments work only on reasonable people.

    The transition will be extremely bumpy, and it's going to hurt. A lot.

    "In America, the law is king." --Thomas Paine

    by limpidglass on Wed Apr 24, 2013 at 04:49:53 PM PDT

    [ Parent ]

    •  they won't slit their own throats so let's do it (0+ / 0-)

      for them and shrink the market by not buying their products, etc, etc,   As long as we buy their products, eat their meat etc.  we are enablers.

      Macca's Meatless Monday

      by VL Baker on Wed Apr 24, 2013 at 04:56:01 PM PDT

      [ Parent ]

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