The Carbon Bubble is Bursting

Carbon bubbles arrive.

Carbon bubbles arrive.

GR:  Let’s hope that former coal and oil cheerleaders, investors, and employees can make a smooth transition to wind and solar.

robertscribbler

I admit it. I felt sorry for those poor, duped oil, gas and coal company investors back during the early part of 2015. Many of these guys, fed a constant stream of bad information from the financial news sources, at the time were still enraptured by the notion that fossil fuel stocks were then cheap and that the situation was nothing more than some kind of golden buying opportunity.

Now, six months later, 41 US oil and gas companies have gone bankrupt, powerful major oil companies like Exxon and BP are in the range of 20-40 percent losses in stock price year-on-year, most gas companies have seen even more severe losses, and most coal companies have been reduced to junk stock status (see Arch Coal declares bankruptcy). TransCanada, the parent company of the canceled Keystone XL Pipeline, is challenging United States sovereignty with its 15 billion dollar…

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Deepwater Horizon On Land: Porter Ranch’s Neverending Gas Leak Prompts California State of Emergency

Porter Ranch activists opposing fossil fuels.

Dec. 12 demonstration at the SoCalGas Porter Ranch site (Alan Weiner, 350.org)

GR:  Energy industry lies might be the most reprehensible in their consequences for the global environment and all its species. However, they resemble the lies told by the chemical industry about pesticides, the lies told by the financial institutions about economic affairs, the lies told by the arms industry about the need for weapons and military support in other countries, the lies told by the insurance industry in its efforts to collect premiums but not fulfill obligations, and the lies of our elected representatives who protect the corporations that fund their power and lifestyles. The cumulative effect of the lies by our major corporations (e.g., VW) is that people are losing respect for the industries they support through their labor and consumption. I don’t think “Made in America” means what it did when I was a beginning consumer. Here are a few stories on divesting as a means to limit the power of our untrustworthy industries (https://garryrogers.com/?s=divest&submit=Search).

robertscribbler

It’s the gas leak that just won’t end. One whose impacts have now become so wide-ranging that it has prompted California governor Brown to issue a declaration of emergency. But, even with vast state resources now in place to help deal with this disaster, the impacts are likely to be long-lasting and far-reaching. Serious impacts both to public health and to California’s contribution to global atmospheric, oceanic, and glacial warming.

A Dangerous Industry With Long-Lasting Impacts

(The Environmental Defense Fund issued this aerial infrared footage of a massive gas leak at Porter Ranch, California. In total, more than 250 million pounds of the gas has already leaked from the disaster site — increasing California’s greenhouse gas emissions by more than 25 percent, sickening hundreds of local residents, and forcing the evacuation of more than 2,000 homes. Video Source: The Environmental Defense Fund.)

Poking holes in the Earth or…

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Save the Earth, Divest: Stop Supporting Major Corporations

CO2 production

Image from Britannica

Large multinational corporations are pursuing profits to excess.  We must divest our holdings in the largest Military, Insurance, Finance, Energy, and Chemicals (MIFEC), and we must stop purchasing their products.

They are destroying the earth for profit.

Guardian climate change petition reaches 100k signatures

Sign the Guardian’s Climate Change Petition.

“Actor Tilda Swinton and chef Yotam Ottolenghi are among 100,000 people who have supported the campaign calling for the Wellcome Trust and the Bill and Melinda Gates Foundation to divest from fossil fuels.

“The campaign asks the world’s two largest charitable foundations to divest from the top 200 oil, gas and coal companies within five years and to immediately freeze any new investments. It was launched by Guardian editor-in-chief Alan Rusbridger in partnership with the global climate movement 350.org.

Source: www.theguardian.com

GR:  Join in the world war of our time.  Become one of Earth’s Defenders against human greed;  sign the petition and find more ways to help.