Emeritus Prof Christopher May

So, if we take the instruction to follow the money... then the news that US oil groups are likely to gain upwards of $60bn windfall from the rise in global oil prices caused by the US/Israeli attacks on Iran & the Iranian's response, would lead one to presume few in the oil industry will be working to resolve this crisis....

Of course, their short-term advantage may in the end prove a pyrrhic gain if it encourages a speedier take up of alternatives (renewables)?

#Iran #oil #economics
h/t FT

Mar 14 at 10:29pmWeb
Show threadLarryMar 14
@ChrisMayLA6
a BYD EV built in their Sellantis factory.
Show threadAlex P Roe Mar 14
@ChrisMayLA6 Clouds can have silver linings 🙂 The Tangerine Tyrants epic idiocy might well put renewables in the spotlight now that viable alternatives to fossil fuels exist.
Show threadbeemohMar 14
@ChrisMayLA6 It wouldn't surprise me if it wasn't you that posted it, but I remember seeing a story go past a bit ago suggesting that the fossil fuel industry knows their time is up and they're just trying to squeeze out at much as they can before the big day, so I'd imagine at this point they just don't care.
Show threadEmeritus Prof Christopher MayMar 15

@beemoh

I think that remark appeared in a thread linked tone of my posts a week or so back rather than by me.... but as an observation it makes perfect sense

Show threadNiniMar 15
@beemoh @ChrisMayLA6 I figured it was closer to knowing their time is up so it's just burning it all down at this point, a sort of nihilism that'd allow everything on Earth to experience heat death just so they wouldn't have to see their industry die.
Show threadskuaMar 14

@ChrisMayLA6

"Short term profits" = sure money to shareholders. Purpose fulfilled, big bonuses to management.

"Long term" = uncertainty about returns, unquantifiable risk, space for competitors now, negative pressure on share price, unsatisfied shareholders, smaller bonuses.

Show threadGif's ArtidoteMar 15
@ChrisMayLA6
i reckon all industries profiting have been actually planning this for decades & are ultimately conspiring & responsible for all this. in other words, the #billionaireClass & anyone not resisting.
Show threadDoug Baker - Elbows Up! 🇨🇦Mar 15
@ChrisMayLA6 He will ban renewables
Show threadNiniMar 15
@ChrisMayLA6 $60b can pay for a lot of lobbying and slowing renewables uptake.
Show threadElshara SilverheartMar 15
@nanowiz @ChrisMayLA6 Fossil fools the lot of them.