Re:The Two Middle Classes
by woodandsteel on Sunday March 01, 2020 @06:34PM
(#22460188)
The oil oligarchs strongly opposed renewable energy because it would simply replace oil, gas and coal consumption. New governmental regulations that forbid their companies from selling their products are of no use to them. If you don't believe me, do a google search on: fossil fuels stranded assets.
Re:The Two Middle Classes
by woodandsteel on Sunday March 01, 2020 @06:41PM
(#22460227)
And one more point. There are a lot of big companies in the renewable energy field, but they are for the most part a whole different set of companies than the fossil fuel ones. And the fossil fuel companies know this, and that they are going to get replaced, so they have been denying global climate change for decades.
> I don't think any serious survey of the financial interests of the global superrich will support this view.
There is a subtlety here - one possible outcome is oligarchs cynically favouring climate policy while simultaneously having deep vested interests in fossil fuels.
The article isn't saying that the oligarchs want to do anything about climate change; the idea is that they are very keen on the principle of using centralised power to control others and will attach the things they want controlled to climate policies as implemented.
If I owned an oil company then backbreaking legislation that means nobody can start a new oil company would be strategically interesting; for example. Big companies don't fight regulation tooth and nail. They accept the regulation then lobby for loopholes that favour them and restrictions that disadvantage competition.
It is, in fact, rare to see a corporation moving to deregulate industries. They often fight changes, but rarely organise to reverse reverse things once they are in compliance with new rules.