71–80 of 123 posts
Earlier quoted context omitted.
Do consumers want a ruined planet?
After seeing the absolutely bonkers car culture that America has, then yes. At least yes as an implicit result of the lifestyle they cannot or will not stop.
> After seeing the absolutely bonkers car culture that America has, then yes.
The planet is a lot more than just America.
Assume for sake of argument that climate change is catastrophic and that ExxonMobil knew as much. We’re to believe that the real victims here are ExxonMobil’s investors ?
They might not be the greatest victims but they certainly are some of the victims. They invested money in a company whose business model was unsustainable. The company knew that the business model was unsustainable but did not tell them. In the US publicly traded companies have a duty to let their shareholders know all material risks to the company that the company is aware of. The response to this is usually “but ev…
I'm super worried by these lawsuits. Instead of forcing the oil industry to invest in cleaner energies, to clean the atmosphere by for instance paying for planting massive amount of trees, or even to extract oil more sustainably... They want them to pay investors that were deceived by a fact everybody fucking knew for decades. Makes me feel we're doomed and incapable of focusing on real challenges.
It does not have to be "instead". Can be in addition to. These things are not mutually exclusive. NYAG does what they can in their power.
I'm super worried by these lawsuits. Instead of forcing the oil industry to invest in cleaner energies, to clean the atmosphere by for instance paying for planting massive amount of trees, or even to extract oil more sustainably... They want them to pay investors that were deceived by a fact everybody fucking knew for decades. Makes me feel we're doomed and incapable of focusing on real challenges.
Earlier quoted context omitted.
They might not be the greatest victims but they certainly are some of the victims. They invested money in a company whose business model was unsustainable. The company knew that the business model was unsustainable but did not tell them. In the US publicly traded companies have a duty to let their shareholders know all material risks to the company that the company is aware of. The response to this is usually “but ev…
> Back in the late 80s and early 90s climate change was far from settled thing. I was under the assumption that the basic tennets of climate change were well understood by scientists more than 100 years ago. While the climate models have been developed only recently, enabling more accurate predictions, climate science is centuries old as it relates to understanding human impact on our climate. Climate science was as…
Assume for sake of argument that climate change is catastrophic and that ExxonMobil knew as much. We’re to believe that the real victims here are ExxonMobil’s investors ?
It’s also peak capitalism, where only investors matter.
So it's not that they've endangered the public, or maybe even the environment. It's that they deceived shareholders.
I think they’re using an interesting legal strategy here. They can use shareholder fraud to have legal standing to pull them into court, but the case prema facie rests on the acceptance of climate change.
“What we are facing now is a person whose crime dwarfs all of the crimes ever committed in human history. We were unable to find a single law applicable to his crime. So we recommend that the crime of Extinction of Life on Earth be added to international law, and that Rey Diaz be tried under it.” — Cixin Liu, The Dark Forest