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A comment on Massachusetts Sues Exxon over Climate Change, Accusing the Oil Giant of Fraud. Parent comment

Re:Massachusetts Sues Exxon over Climate Change, Accusing th... by ta0987 on Sunday October 27, 2019 @08:44AM (#21369360)
The reason the characters are lieutenants in my story is because this problem is bigger than them. You could take every penny the oil companies have and it would barely make a dent in the problem. This isn't a money problem it is a fundamental economic and industrial structure of society problem.
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Re:Massachusetts Sues Exxon over Climate Change, Accusing th... by calcifer on Sunday October 27, 2019 @09:07AM (#21369465)
> You could take every penny the oil companies have and it would barely make a dent in the problem.

Citation needed. The top 10 oil companies [1] had a cumulative $2.5 trillion dollars in revenue in 2017. I'd say that'd go a long way in climate change R&D.

[1] https://en.wikipedia.org/wiki/List_of_largest_oil_and_gas_co...

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Re:Massachusetts Sues Exxon over Climate Change, Accusing th... by Aunche on Sunday October 27, 2019 @09:40AM (#21369610)
Revenue, not profit. Oil is very low margin. Oil companies makes about 7 cents per gallon of gasoline. That's a lot less than the amount of money that is collected from gasoline taxes.

https://www.forbes.com/2011/05/10/oil-company-earnings.html#...

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Re:Massachusetts Sues Exxon over Climate Change, Accusing th... by onetimemanytime on Sunday October 27, 2019 @09:37AM (#21369593)
Value would go to zero the minute you announce confiscation or whatever we call it. And revenue is different from money in the bank or assets.
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Re:Massachusetts Sues Exxon over Climate Change, Accusing th... by WillPostForFood on Sunday October 27, 2019 @09:41AM (#21369620)
So, nationalize oil sales revenue to fight to raise money to climate change. See any problem there?
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