Having reached the mainstream with new backing from the United Nations, the global fossil fuel divestment campaign continues to gain momentum.
By “divesting”, the public loses any small amount control it may have had inside the boardrooms and shareholder meetings.
There is such a massive pile of 0.01% “wealth” stacked off shore that it may be the oiligarchs have realized they don’t need “institutional” investors to carry on pumping, fracking and digging. Co-opting the “divest” movement in a way that is more greenwashing than actual change.
That the Guardian, Rockerfellers, Gates etc are jumping on this bandwagon is highly suspect, like Monsanto driving the “sustainable agriculture” and vegan agenda and actually getting activists to unknowingly work against true organic/local farming.
Not that I don’t trust the motives of the 0.01% and their echo-chamber media, but given past history, none of us should.
We learn here that:
“The Guardian’s campaign is being launched with ‘the firm belief that it
will force the issue now into the boardrooms and inboxes of people who
have billions of dollars at their disposal.’
—Alan Rusbridger, Guardian editor-in-chief”
The very people who have paid for the current system to be set up, are now being asked to use their new knowledge and conscience along with their leverage to stop it.
That these people should have such power as to determine the quality of life for all the rest of us IS, of course, central to THE problem.
• Naomi Klein’s latest book, “This Changes Everything” illustrates how this often hard-to-swallow reality (for some) is a necessary next step if we are to collaborate in maintaining Life on this planet.
The economic paradigm at play is hinged on using the most fuel possible, even if it is used inefficiently (think industrial agriculture as an example). Until the externalities are folded into the economic models, this idiocy will continue more or less unabated. Big Energy will hold the world ransom until it is compensated for reserves. The market response will be chaos and there will be a severe disruption of whatever remains of “civilization” when this comes to fruition.
Divestment will not “force the issue now into the boardrooms”. The folks in the oil company boardrooms neither know nor care that Mr. Gates has sold his stock. When Gates “divests” his portfolio of oil stocks, he simply sells them to someone else. The oil companies don’t care who owns the stock! And the oil companies aren’t involved in the transaction in any way. They made their money off the original issue of the stock, and reap no benefit or harm from any subsequent reselling of the stock.
The only thing that divestment does is make the divestor feel good. And cause the divestor to lose a lot of money off the dividends and share price increases of the oil stocks he just sold to some other lucky investor.
If a large enough quantity of a stock is dumped at one time, that could depress its market price for a while, which actually could have an effect on those fossil fuel companies which are currently engaged in stock buybacks. It could help them.
You are unfortunately delusional if you think there was ANY influence by these groups on oil companies. Bill Gates could make a huge difference by divesting and publicly telling the world why.
Look at history, the sanctions/divestment of South Africa made a huge impact. It takes a while but it works.
I agree and a bigger impact would be for Mr. Gates to investment that freed up money towards alternative energy sources–
Again, it is futile for activists or the “public” to try to “divest/influence” an entire industry sector, let alone one the size of the oil industry.
The likelihood that the ultra-billionaire class members like Gates will change their spots and truly speak truth to power is even more fanciful.
Gates has gone as far along the “social good” spectrum as his “greed is good” ethos comfortably accommodates.
You are delusional if you thing Gates et al are really in this for anyone’s ultimate good beyond their own narrow profitability and status.
Bill Moyer - investigation of ALEC.
As long as ALEC runs the Republican Party, and Repubicans run this country, don’t expect any of the rest of us to win anything.