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'Incredible' News as Banking Giant HSBC Ditches New Coal, Tar Sands, and Offshore Arctic Drilling Projects


#1

'Incredible' News as Banking Giant HSBC Ditches New Coal, Tar Sands, and Offshore Arctic Drilling Projects

Andrea Germanos, staff writer

In another signal that "the era of fossil fuels is coming to a close," Europe's biggest bank, HSBC, announced Friday that it will no longer fund oil or gas projects in the Arctic, tar sands projects, or most coal projects.


#2

That’s what were talkin about…good on HSBC. Let’s see others follow suit.

As for Crudeau…better pay attention or you are out.


#3

Note that this “Incredible News” is limited to specific geographical areas, tar sands and “most” coal projects. Clearly, it is an attempt to appear less harmful, rather than proactive. A program made for liberals.

When HSBC gets out of funding nothing but environmentally sustainable projects like wind, solar and geothermal and stops funding war corporations, the new might actually be “Incredible.” Or if they pay reparations to the many countries they have bled with IMF-type vampire loans, that would be truly incredible and news as well.

I’m not holding my breath.

This “news” is not news at all, but PR.


#4

Time to play three-dimensional “the enemy of my enemy is my friend”.


#5

And PR are the first two letters in P-R-O-P-A-G-A-N-D-A!


#6

Like walking on eggshells after consuming six bennies.


#7

It’s starting to look a lot like Christmas…


#8

HSBC is the latest financial institution to drop support for extractive energy. Earlier this year, the biggest pile of investment money, the Norwegian sovereign fund, did likewise. So what do we know that the U.S. oil and coal companies would like us to not know? Why, it is increasingly clear to every smart dollar that dirty energy is coming to an end, and less and less money can be made through them. To HSBC, it is less about protecting the environment as it is the increasing risk in investing in dirty energy.

This is another compelling reason why the 2018 mid-terms are so important. The current crop of politicians in Washington D.C., of both parties, will continue to take money from whoever they can, and damn the environment. Meanwhile, we fall further and further behind other nations in renewable clean energy development.

Support the likes of Bernie and Nixon this November, and throw out the centrist Democrats, and the Republicans. Re-bury these dinosaurs, current and ancient, before we miss the next wave of economic growth in clean energy.


#9

Ok, this is great. But what about the projects already underway?


#10

Maybe HSBC’s CEO has been reading Common Dreams:


#11

Now bankers lie and pretend they are spiritual because they know low EROEI investments are bad and are going to keep their cash instead. What then is the next move on our cosmic chessboard? Fossil fuels can’t be replaced without people dying. This will not end well.