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Citing 'Permanent Oil Price Decline,' Norwegian Fund's Fossil Fuel Divestment Could Spark Global 'Shockwave'

Citing 'Permanent Oil Price Decline,' Norwegian Fund's Fossil Fuel Divestment Could Spark Global 'Shockwave'

Jon Queally, staff writer

In a move that climate campaigners say should send a "shockwave" through the global oil and gas industry, the Norwegian Sovereign Wealth Fund—the largest of its kind in the world—has recommended the Norway government divest the entirety of the fund's $40 billion holdings from the fossil fuel industry.

Some potential good news. I’m frankly not sure what to do with that… Hope the Norwegian Parliament follows through with the recommendation…

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Unfortunately the Norwegian government is a wholly owned subsidiary of America and will undoubtedly put an end to this “foolishness” in short order, before going back to “privatizing” the country’s infrastructure and resources.
All of their media is slavishly following America’s approved scripts and their banks and postal services are already gone, so next up is healthcare and probably their national forests.

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And yet the Social Security Trust Fund is more than two-and-a-half times bigger.

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This is great news to be sure. Now if we can just get our guvmint to stop subsidizing fossil fuels we may be on to something even better.

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The Green New Deal is looking very prophetic.

Mitch and his gang of Fossil Fuel thugs should take notice instead of ridiculing the idea of Renewable Energy.

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Invest it in Hemp ,fastest growing industry in the world .
Here’s a secret the fossil fuel Industry does not want you to know …Anything that can be made from hydrocarbons in oil can just as easily be made from carbohydrates in vegetable crops like Hemp.

It’s time has come again !
Back to the future …

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Well thanks Tarsus for that tiny happy bubble burst - lol !!

As Bernie would say — “this is yuuuuuge”

This is the first and most notable disinvestment based on the truth that there should be NO INVESTMENTS that CAUSE ‘negative externality costs’ to be dumped on our world just for the criminal intent of making ‘faux-profits’ only through raping ‘our world’.

I have spent the last ten years trying to wake the ‘socially responsible investment community’ to the effin reality that they could make a massive and POSITIVE EFFECT on “our country” and the world if they stopped effin around with their stupid current ‘factors and screening’ approach to selecting good companies, and avoiding bad companies, by switching to the simple idea, marketing strategy, and ‘marketing narrative’ of investing in “POSITIVE EXTERNALITY PROFITS” and avoiding like the effin PLAGUE any investments in nasty effin useless corporations that are only able to make ‘phony profits’ by destroying our only world.

I absolutely can’t believe that supposedly good “Socially Responsible Investment” firms like PAX (founded in Portsmouth NH) can be sooo stupid, and consistently refusing to listen to their own customer base telling them to get serious and start using an analysis method of looking at companies from the standpoint of generating “Positive Externality Profits” vs, looting thieves in corporations that dump ‘Negative Externality Costs’ on our world’!!!

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If I had money to invest I’d put it in domestic hemp and bamboo

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So the real question would seem to be - what will those investments go into?

And Yet, our SocialSecurity Trust Fund will be wiped-out if Medicare Advantage Plans (allowed by our dumb and looting Congress) is allowed to continue looting via ‘front-end loaded’ deletion with “Capitation” rate withdrawals from United Health Care and other un-health care looters!!!

The future is crying out for the:

H appy
E nvironment
M anagement
P lan.

Wind, Solar, Geothermal, and HEMP.

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Way to go PonyBoy …love it .

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Fossil fuel companies are going to get sued until all shareholder value is gone. This happened to the tobacco companies. This happened to chemical companies.

Fossil fuel companies are starting to understand that the world is turning away from fossil fuel. Both individuals and governments are turning their backs on “the lowest bid”, because of climate change. Because the writing is on the wall, companies and governments aren’t hoarding oil any more. They’re selling the stuff out the door for whatever they can get right now. There won’t be any tomorrow for their core business.

This Bad Guys turning into Good Guys is another fable. It’s not like they will divest into cleaning up their mess by cleansing the Planet. They will find other dirty ways to make money. Anyone who thinks Big Oul is dead, is very mistaken. Seems to me, they are just trying to cover their asses.

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Yeah, the reasoning behind divesting is off. Rather than be thinking about the risk to planetary environment and climate, they worry about the financial risks. Still, if financial risks are what move fund managers and the Norwegian government to divest from fossil fuels, it’s still a win for the environment and climate.

Tarsus, maybe the Norge gov’t will be more likely to agree with divesting given the financial risk argument. And, gee it would be wonderful for them to recognize the investment potential of renewable energy sources.

Good first crack but the US oil cartel needs a lot more sustained blows to get it to it’s knees. They have tens if trillions in cash and assets throughout the world. However the trends are not in their favor.

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Probably, but as an oil rich country without nuclear weapons such decisions are out of their hands.
They have little choice by to go along with America’s dictates, and America want to keep burning fossil fuels until we all choke to death.
More over, their entire economy is built around oil revenues.
They also have some of the most fiscally inept politicians in Europe, and it is only due to their oil reserves that they remain one of the richest countries in the world.

There is no renewable replacement for fossil fuels as we use them today. The question is How do we use them much less? Air travel is probably the first usage to restrict as mostly a luxury. Wholesale conversion of personal cars to hybrid and battery EVs is probably next, especially combined with rooftop and neighborhood solar array power systems. Mass transit next should include replacement of obsolete buses; current 40’ bus models do not convert very well to hybrid nor battery operation. Transit-oriented development of mixed-use infill construction enables the growth of local economies and walkable neighborhoods connected within regional metropolis. USA may nationalize the railroads to install reliable passenger-rail service to spite Warren Buffett BNSF hauling more fossil fuels than all railroad companies and Amtrak’s worst record Empire Builder. This is where divestment funds should go to reduce fossil fuel use.

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