DIVESTING OIL/COAL/GAS? - MARLO LEWIS
Globalwarming.org: The Divestment Movement’s Heart of Darkness
In Real Clear Markets today, economist Ben Zycher of the American Enterprise Institute calls out the hypocrisy of the divestment movement - the movement that urges colleges, foundations, local governments, and other large investors to sell their stock in 200 coal, oil, and gas companies with the highest reported “carbon” reserves. Supposedly, this will depress the capitalization and asset value of the fossil-energy sector, hastening its demise.
Fossil energy companies exist only because other industries — manufacturing, agriculture, telecommunications, etc. — require energy to create products and services. Governments, too, are large energy consumers. So if investors have a moral imperative to bankrupt carbon-energy production, they should dump all their stocks and bonds. > Read more
> Interview Marlo Lewis