Honestly, it’s so frustrating dealing with the people who want to stick their heads in the sand. Even if you don’t believe the climate is changing, have you not noticed how the air has gotten less brown over major cities since coal plants were shut and car/truck emissions were at least reduced? Even if global warming weren’t a thing, I’d very much prefer to not breath brown air.
These business men are morons. They could have used their vast wealth, market advantage, and the advantage of knowing early about the necessity of the coming energy transition to corner the new renewable market. Instead they just tried to put off the inevitable at the expense of everybody, including themselves.
They seek to maximize quarterly revenue, their next quarter in particular. Not in 15-30 years.
Don’t expect a company to decide on its own to prioritize long term revenue, or the public’s welfare. Especially not if it’s publically traded and/or has some hedge fund ownership.
That’s what regulations and carbon taxes are for.
That goes to my point. It’s a stupid way to run a business. Catering to the quarter instead of the health and longevity of the business is stupid.
I agree it’s stupid. It’s also wired in the incentives business and their management have, and the way the economic system works.
Investors typically give their money to companies they think could grow in the short/medium term, and get them good return on investment. Managers performance reviews and bonuses depend in large part on the last period’s business results, not the results 15 years from now, because that’s what investors wants.
Having smart smart people in leadership who care about public health and longevity will not (be enough to) solve this. Even they are regularly pressured for short term results, and may loose their job/investors/customers if they don’t produce those results. Improving regulations and incentives to account for longevity and public heath is necessary.
People die. If you invested in something would you want your money after you died? Or would you like to spend it before that? Preferably when you were still healthy perhaps?
These executives have money they can’t spend in a life time. The levels of money were talking about with these people doesn’t affect their lives if they invest in the future. They all end up giving away a bunch when they die no matter how opulent the lifestyle.
What about the mass of people who invest little and pressure the companies? Its a huge part of companies portfolios (economy of masses).
I agree with your sentiment but I am just saying why things like that happens. Its human nature
Okay it’s real and it’s because of us but there’s nothing we can do about it!1!! Like what do you want us to do??? Maybe if you give me a few more million dollars to do studies on the impacts of doing things then we’ll be able to know for sure if we should do anything about it
*should have done a lot about it
The alternative was to make potentially make less money.
I always think about this commercial: https://www.theguardian.com/environment/2021/nov/18/the-forgotten-oil-ads-that-told-us-climate-change-was-nothing
