Re:EPA to Rescind Methane Regulations for Oil and Gas
by vanusa on Monday August 10, 2020 @04:01PM
(#24113394)
The "maximizing profits" trope simply doesn't explain why o1l and gas has such an outsize influence.
I agree that these kinds of supports (to certain industry sectors) don't always do all that much to maximize their profits (short, let alone long).
The real reason behind them is their symbolic effect. It's the idea of a limitless (and infinitely exploitable) "frontier" -- and the inherent, sacred right of private capital to manage that exploitation, unfettered by regulation -- that they seek to defend with these actions. (That, and the repudiation of basic science on general principles of course).
That some of their donors (who as I'm sure you know will individually benefit many magnitudes of order more than individual consumers will from the temporary increase in economic potential) is a nice plus (icing on the cake) as it were -- but it's not the main driver.
I agree that these kinds of supports (to certain industry sectors) don't always do all that much to maximize their profits (short, let alone long).
The real reason behind them is their symbolic effect. It's the idea of a limitless (and infinitely exploitable) "frontier" -- and the inherent, sacred right of private capital to manage that exploitation, unfettered by regulation -- that they seek to defend with these actions. (That, and the repudiation of basic science on general principles of course).
That some of their donors (who as I'm sure you know will individually benefit many magnitudes of order more than individual consumers will from the temporary increase in economic potential) is a nice plus (icing on the cake) as it were -- but it's not the main driver.