Rockefeller Family denounces Oil.

[Grimbold21]

Not really. As I said, they're divesting, aka: selling it off. It still requires someone buying it. The net effect is zero. Just some rich people get to feel good about themselves.

I don't really know the first thing about stocks, but i reckoned that a major company ditching oil would result in a drop of it's price therefore generating some panic.

[Tradewind]

I don't really know the first thing about stocks, but i reckoned that a major company ditching oil would result in a drop of it's price therefore generating some panic.

Well the other thing to consider is that stocks generally have absolutely fuck all to do with what's actually happening, they're more a representation of the "mood."

Though if I was a holder in shares comparable Rockefeller's interests right now I'd probably be selling because they'd be getting snatched up like hotcakes right now.

[Stonecloak]

I don't really know the first thing about stocks, but i reckoned that a major company ditching oil would result in a drop of it's price therefore generating some panic.

Nah it's still very profitable, and will be for around 50 years. The panic will happen to those who don't adapt to the move to clean renewable energy. A lot won't till the very end. Some shmo will get a huge loss by buying tons of stocks some years before that time.

[Noomz]

The Rockefeller family, whose legendary fortune was built by John D. Rockefeller through Standard Oil, announced that its $860 million philanthropic foundation is joining the divestment movement and abandoning fossil fuels. The announcement comes just ahead of the United Nations climate-change summit that starts Tuesday in New York City, and is part of a broadening divestment initiative in which people commit to selling shares of energy stocks. The Rockefeller Brothers Fund has already eliminated investments involving coal and tar sands, while increasing its investment in alternative energy sources, the fund’s president said. Unwinding other investments in a complex portfolio involving a broader range of fossil fuels will take longer, he noted.

http://www.nytimes.com/2014/09/22/us...ent-drive.html

Who doesn't like some random unexpected good news?

Now that gives me some hope! I'm very, very happy to see this initiative by the people who have both money and power to make the greatest change. Beautiful, to say the least!

[Kraenen]

Well the other thing to consider is that stocks generally have absolutely fuck all to do with what's actually happening, they're more a representation of the "mood."

You don't know how refreshing it is to hear someone say this

[Tradewind]

You don't know how refreshing it is to hear someone say this

I wouldn't give me too much credit, I picked it up from a movie...I forget which one though.

[Kalis]

One of the "beauties" of big business, is that those most responsible for ensuring we continue to use oil and pump crap into the atmosphere, will also be those who profit the most from us using alternative energy sources in the future, as it will be where they invest and they have the finances to dominate those markets.

On the bright side, the atmosphere won't be getting shafted as hard.

[Tradewind]

One of the "beauties" of big business, is that those most responsible for ensuring we continue to use oil and pump crap into the atmosphere, will also be those who profit the most from us using alternative energy sources in the future, as it will be where they invest and they have the finances to dominate those markets.

On the bright side, the atmosphere won't be getting shafted as hard.

The funny thing is too, I work for an oil company! My living is entirely dependent upon the industry going forward. That being said, I would love for them to be "better" at it and for the most part (locally anyway) they are fuckin' trying. There's just the usual suspects who completely disregard technology and innovating methods because the old ways are cheaper.

Plus if it goes tits up, there's always severance pay.

[Kalis]

The funny thing is too, I work for an oil company! My living is entirely dependent upon the industry going forward. That being said, I would love for them to be "better" at it and for the most part (locally anyway) they are fuckin' trying. There's just the usual suspects who completely disregard technology and innovating methods because the old ways are cheaper.

Plus if it goes tits up, there's always severance pay.

You work in the oil industry?! You're pure evil!


Just like my oldest brother, who works for NOV.

And my second oldest brother, who works for BoA.

And probably me as well, insurance brokers aren't the most popular.

[Tradewind]

You work in the oil industry?! You're pure evil!


Just like my oldest brother, who works for NOV.

And my second oldest brother, who works for BoA.

And probably me as well, insurance brokers aren't the most popular.

Necessary evils heh. The job market in my city is primarily oil or somehow related to oil services.

One thing people tend to forget though is that O&G is used for more than just energy. Shutting the industry down would affect so much that people likely don't even realize.

Just think of a world where plastics and nylon suddenly didn't exist.

[Tradewind]

At least you don't work for Monsanto.

meh I can jump on and off the hate wagon for them in their business practices and such, but I am not anti-gmo in terms of the science and necessity.

[Very Tired]

Guessing the Inception team got to him too.

[Reeve]

You work in the oil industry?! You're pure evil!


Just like my oldest brother, who works for NOV.

And my second oldest brother, who works for BoA.

And probably me as well, insurance brokers aren't the most popular.

I work for an oil exploration company too! Everyone loves evil corporate Trevor because the oil he finds... Enables the global economy...

[Chiquihuite]

Just think of a world where plastics and nylon suddenly didn't exist.

Sunlight can be converted into those, too. But I'll totally grant you that it's not something we can just do overnight. It'll take a serious effort to make that transition and make it both sustainable and profitable.

On the other hand, you'd think big energy companies would be salivating at the thought of bottling and selling sunshine for profit. I imagine that'll happen once we achieve battery tech that isn't complete garbage.

[Kalis]

I work for an oil exploration company too! Everyone loves evil corporate Trevor because the oil he finds... Enables the global economy...

My oldest brother lives in Houston as well.

NOV are something to do with oilrigs I believe, don't know much about them apart from they are quite big in their particular field.

[Bryntrollian]

Mark my words, if the US federal government doesn't pledge tens of trillions of dollars (I hoped for 100 trillion+) in green energy and renewable technology coupled with infrastructure improvements, we will lose out on hundreds of trillions of unrealized profits over the coming century. The time to realize change is now. 21st century technologies is the key for 21st century prosperity in the west, and in turn, the world.

You think the Federal Government has 100 Trillion dollars to allocate just for green energy? Laughable

[Tradewind]

My oldest brother lives in Houston as well.

NOV are something to do with oilrigs I believe, don't know much about them apart from they are quite big in their particular field.

They're a huge mechanical outfit for rigs.

[Reeve]

My oldest brother lives in Houston as well.

NOV are something to do with oilrigs I believe, don't know much about them apart from they are quite big in their particular field.

They're an oilfield services company, which can mean a lot of things.

[Daelak]

You think the Federal Government has 100 Trillion dollars to allocate just for green energy? Laughable

Of course, we can sell treasury notes to the world. I think we could raise even more if we also had a big initative for space exploration and science.

[Gumboy]

Are they giving away alllll the money they got from oil?