environment Politics: divestiture economics heroes justice slavery sustainability
by Warren
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Year 4, Month 9, Day 19: Just The Word I Was Looking For!
I sure am proud to be from Massachusetts. The Boston Globe:
Some Massachusetts lawmakers want the state to join a growing national movement that is fighting climate change by pressuring institutional investors such as pension funds and university endowments to divest holdings in companies that produce, distribute, and support fossil fuels.
Fossil fuels include oil, natural gas, and coal, which, when burned, produce carbon dioxide, the major culprit in climate change. Earlier this week, the Legislature held its first hearing on a bill that would require the state pension fund to unload over five years some $1.4 billion in investments — about 2.6 percent of the $54.4 billion fund — in oil companies, mining companies, refiners, and similar corporations. An estimated 200 people rallied in support of the bill in front of the State House Tuesday.
If the legislation is approved, Massachusetts would become the first state in the nation to divest its fossil fuel holdings, said state Senator Benjamin B. Downing, a Pittsfield Democrat sponsoring the bill. He argued that divestment makes economic sense given the quickening adoption of wind, solar, and other renewable energy sources.
“At some point, those fossil fuel companies will not be a good investment, and that will have an impact on our pension fund,” Downing said. “We need to transition away.”
This sprang naturally to mind. September 12:
It was in 1831 that Massachusetts’ voice of conscience, William Lloyd Garrison, excoriated public indifference to the evils of slavery, writing, “The apathy of the people is enough to make every statue leap from its pedestal, and to hasten the resurrection of the dead.” His dedication, and that of countless other abolitionists motivated by a profound sense of justice, helped hasten the end of a crime against humanity.
We now confront another kind of bondage — a servitude to the giant multinational corporations which profit hugely by selling us oil and coal to heat our homes, run our automobiles, and power our infrastructure — but which we now know are damaging our planet’s health in ways which will make our descendants’ lives all but intolerable. The movement to divest from fossil fuels is morally and economically analogous to Garrison’s tenacious campaign against another “peculiar institution” one and a half centuries ago.
Warren Senders
Education environment Politics: analogies Buckminster Fuller slavery timescale
by Warren
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Year 3, Month 4, Day 14: Ventilated Prose Edition
Curse you, Jim Hansen! Why must you be right, all the time? The Guardian (UK):
Averting the worst consequences of human-induced climate change is a “great moral issue” on a par with slavery, according to the leading Nasa climate scientist Prof Jim Hansen.
He argues that storing up expensive and destructive consequences for society in future is an “injustice of one generation to others”.
Hansen, who will next Tuesday be awarded the prestigious Edinburgh Medal for his contribution to science, will also in his acceptance speech call for a worldwide tax on all carbon emissions.
In his lecture, Hansen will argue that the challenge facing future generations from climate change is so urgent that a flat-rate global tax is needed to force immediate cuts in fossil fuel use. Ahead of receiving the award – which has previously been given to Sir David Attenborough, the ecologist James Lovelock, and the economist Amartya Sen – Hansen told the Guardian that the latest climate models had shown the planet was on the brink of an emergency. He said humanity faces repeated natural disasters from extreme weather events which would affect large areas of the planet.
“The situation we’re creating for young people and future generations is that we’re handing them a climate system which is potentially out of their control,” he said. “We’re in an emergency: you can see what’s on the horizon over the next few decades with the effects it will have on ecosystems, sea level and species extinction.”
This is the first time I’ve been able to invoke Bucky Fuller in a letter. Sent April 6 (I’m now 8 days ahead — yay me):
Dr. James Hansen has it exactly correct. Just as the slave trade’s poisonous legacy continues to haunt the United States a hundred and fifty years after the “peculiar institution” passed into history, the consequences of a century’s worth of profligate carbon consumption will be felt by the next twenty generations of our descendants.
Since the advent of the industrial revolution, we have become accustomed to an apparently inexpensive and endless supply of what the futurist Buckminster Fuller called “energy slaves” — fossil-fueled technology that replaces captive human labor. But now, as climatology reveals the damage wrought by burning all that oil, gas and coal, it is becoming apparent: those energy slaves weren’t cheap after all, and the bill is coming due.
A globally-implemented carbon tax is essential if we are to transform our economic system into one that is not ruinous to the earth upon which all of us depend.
Warren Senders