- cross-posted to:
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- cross-posted to:
- [email protected]
A columnist at Bloomberg has a similar take
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What? Profit driven corporations didn’t change course after being asked nicely? I’m shocked, shocked I say!
Yeah, well they figured out. It’s easier and cheaper to buy the politicians and block them from passing any decent legislation. You know I don’t like costs $20-$30,000 to buy a politician in the US. 150k to 250k if they’re important.
The market is rigged. Fossil fuel subsidies and incentives need to stop if this has to change.
Luckily we have some rays of light in the darkness though!
I came across this other Lemmy post about Portugal and clean energy!Yeah, a number of jurisdictions have hit the point where they can achieve 100% renewable electricity for short periods of time; California and Finland both come to mind as well.
It’s going to take a lot more to get to the point where the world can do it on an ongoing basis though.
I can believe so.
We must always start with the smallest achievements!
Well, in terms of investment opportunities, that just means renewable energy stocks are basically on sale. They will go up in the future. It’s just a long-term payoff.
Well you gotta make money and live large before the world collapses, duh…
Aren’t some of these big oil companies also heavily investing in the clean energy sector at the same time? I mean ultimately it’s the future, so I’d be surprised if they weren’t.
They do not. The biggest consumer of oil products are in transport and it is car companies who are investing into alternatives there as well as established players in making electric trains. For solar, wind and other forms of clean electricity production it tends to be power plant operators who move to them , rather then oil companies. So that is happening that way. The only one were you see large investment is offshore wind, as oil companies have a good advantage in offshore operations from oil rigs. So a goof bit of knowledge can be transfered. There is investment into hydrogen, but even in that case a lot of it comes from the chemical site of things. However most chemical companies are independent from oil companies.
So big oil just tries to make as much money as they can and pay it out in dividends. The shareholders can invest it into whatever they prefer.
