But let’s keep mining those bitcoins! People need to get rich! /s
I think this is good news, although my familiarity with corporate shenanigans is very limited. Pushing more towards renewables as a survival strategy tells me that we are making progress, even though it seems like we are not way too frequently.
This is my wheelhouse, doc!
The dissident slate of Exxon directors was proposed by a hedge fund called Engine No. 1, which asserted that the company’s current board was ill-equipped to handle the transformations that are reshaping the energy sector.
The alternative directors put forward by the hedge fund were also backed by many of the nation’s most powerful institutional investors.
You are absolutely right: this is huge. It is virtually impossible to get any traction with a shareholder proposal, but this one actually overrode the company’s own election process. How? The biggest institutional investors (think, pension funds) are fully backing it, because they realize – as does the military and the insurance industry, both of which have to deal with the consequences so they don’t have the luxury of making long term plans according to political persuasion – that they will get screwed if they don’t pivot to backing alternatives over fossil fuels.
Individual investors can’t do anything, no matter how well-meaning. It’s the big guys realizing their bottom line is going to go up in flames if they don’t acknowledge reality that is causing this shift.
FINALLY.
Haven’t seen this covered anywhere else. Also haven’t heard the Bundy name in a bit. But Beau is on it.
Cross-posting here… some good news, eh?
It is good news, but it’s not nearly enough.
Yeah, we have passed the point where we can stop it, we are now trying to minimize the impact.
Covers the reality of oil & gas boom towns, including historically:
The big dry continues
Speaking of water…
Asshole gonna asshole.
Climate change is real, folks!
Fkn cryptocurrency.
Only when the last tree has died and the last river been poisoned and the last fish been caught will we realise we cannot eat money.
source (probably):
https://quoteinvestigator.com/2011/10/20/last-tree-cut/
