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Why We Have To Kiss Off Big Carbon Now
mdsolar writes When the fossil-fuel divestment movement first stirred on college campuses three years ago, you could almost hear Big Oil and Wall Street laughing. Crude prices were flirting with $100 a barrel, and domestic oil production, from Texas to North Dakota, was in the midst of a historic boom. But the quixotic campus campaign suddenly has the smell of smart money.
One of the biggest names in the history of Big Oil – the Rockefellers – announced last September that they would be purging the portfolio of the Rockefeller Brothers Fund of 'risky' oil investments. And that risk has been underscored by the sudden collapse of the oil market. After cresting at more than $107 in mid-June, the price of a barrel of West Texas Intermediate dipped below $50 a barrel in early January. The crash carries big costs: Goldman Sachs warned that nearly $1 trillion in planned oil-field investments would be unprofitable – even if oil were to stabilize at $70 per barrel.
One of the biggest names in the history of Big Oil – the Rockefellers – announced last September that they would be purging the portfolio of the Rockefeller Brothers Fund of 'risky' oil investments. And that risk has been underscored by the sudden collapse of the oil market. After cresting at more than $107 in mid-June, the price of a barrel of West Texas Intermediate dipped below $50 a barrel in early January. The crash carries big costs: Goldman Sachs warned that nearly $1 trillion in planned oil-field investments would be unprofitable – even if oil were to stabilize at $70 per barrel.
...and put all my money into bitcoin! Oh wait...
Plant a tree, move closer to your work, sell your car and instead use car sharing services and transit. Stop telling "us" what to do and make definitive changes yourselves. I am not a greenie and I don't tell others what they should or should not do
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lol.
i work from home. i haven't 'commuted' for years and years. i don't drive. my kid gets jogged into school. i garden and buy food from the farmers' market which is about 200 feet from my house, and the rest comes from a store at the end of the block. i don't go on vacation places.
so i guess in spite of not considering myself to be a "greenie", i have earned the right to call you a fucking retard.
congratulations! you're a fucking retard.
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Is this the MPAA? Is this the RIAA? Is this the DMCA? I thought it was the USA!
gravity is just another form of control! it's the liberals trying to keep us close to 'mother earth'. it's bullshit Gaia-ism if you ask me.
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Is this the MPAA? Is this the RIAA? Is this the DMCA? I thought it was the USA!
now there's a political FOX cartoon for you. All 'bad' things in a venn diagram that's a circle, with Obama in the middle!
People in cars cause accidents....accidents in cars cause people
I guess the summary is "nobody can afford oil anymore, it's getting too cheap and there is too much of it around"!
Because, you lumbering imbecilic drivel-headed baboon faced cocksmoker, the fucking drilling is to enable the fucking fracking.
Without fracking, there is no need to drill. Any impacts from drilling are directly attributable to fracking.
Now go away.