Re:Norway's $860B Fund Drops 52 Companies Linked to Coal
by bogomipz on Sunday April 17, 2016 @10:40PM
(#11517433)
What do you imagine was done with all of that oil that they sold? Do you think it wasn't put into combustion engines? Do you think that Norwegian oil that was sold somehow wasn't emitted in the form of C02 into the atmosphere?
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Re:Norway's $860B Fund Drops 52 Companies Linked to Coal
by peteretep on Sunday April 17, 2016 @11:55PM
(#11517632)
If they hadn't sold it, there'd be more money and power flowing to other oil-producing countries, many of whom have had a considerably worse impact on the world than originating Barbie Girl.
Re:Norway's $860B Fund Drops 52 Companies Linked to Coal
by Arnt on Monday April 18, 2016 @02:11AM
(#11517983)
Oh please. That was Denmark.
And now you've inserted the ditty into my brain, where it problably will stay all day. Shame!
Re:Norway's $860B Fund Drops 52 Companies Linked to Coal
by vidarh on Monday April 18, 2016 @05:15AM
(#11518621)
While I fully support blaming Denmark, the singer is Norwegian.
Re:Norway's $860B Fund Drops 52 Companies Linked to Coal
by evv555 on Monday April 18, 2016 @12:50AM
(#11517786)
Is that why you think they sold petroleum? Out of the goodness of their heart? Not that I disagree with Norway's decision. It's a nuanced topic.
Re:Norway's $860B Fund Drops 52 Companies Linked to Coal
by bogomipz on Tuesday April 19, 2016 @09:10AM
(#11526658)
Your response makes no sense at all. It is not even clear what you were attempting to say.
Re:Norway's $860B Fund Drops 52 Companies Linked to Coal
by hueving on Monday April 18, 2016 @01:46AM
(#11517926)
Higher oil prices discourages use. By participating in the market they are indirectly encouraging use. There is no way to wash your hands of selling oil.
Re:Norway's $860B Fund Drops 52 Companies Linked to Coal
by jakub_h on Monday April 18, 2016 @06:24AM
(#11518820)
The difference is that there's currently no large-scale acceptable replacement for oil, so ditching oil would be committing a global suicide (or genocide, if you will), while ditching coal in the presence of nuclear, wind, solar and hydro plants that can replace it much more seamlessly is merely a reasonable thing to do at this point.
In addition, this is apparently an investment fund and the coal stocks are tanking, what would you do with the money of the people who turned it over to you for safekeeping? Keep it there?