> Yes, the planet got destroyed. But for a beautiful moment in time we created a lot of value for shareholders.
* https://www.instagram.com/tbtoro/p/B_SdEVThgCr/
* https://www.insidehook.com/culture/story-tom-toro-new-yorker...
Industrial capitalists make mass produced LED lights and cheap solar panels. Eco-activists push for anti-nuclear laws and plastic straw bans.
It's pretty telling that oil lobbyists resort to non-market methods like bribing politicians to stall renewables. They know the time is running out - with all the new power generation and storage tech that's in the pipeline, fossil fuels just aren't going to be economically viable forever. Renewables are rising, and there is no moat - all the existing oil assets those companies hold are going to be increasingly useless as more and more of the world's power comes from non-fossil sources.
"Stall" is about the extent of it though. You can't fight economic forces off forever.
Deepwater Horizon oil spill: Largest marine oil spill in U.S. history. BP paid over $20 billion in fines and compensation.
Love Canal: Occidental Petroleum dumped toxic waste into the Love Canal in Niagara Falls, resulting in pollution causing birth defects. $130 million in settlements.
Exxon Valdez oil spill: Alaska’s Prince William Sound contaminated with 11 million gallons of crude oil. Exxon paid over $1 billion in cleanup and compensation.
DuPont Chemical leak: DuPont contaminated the drinking water of over 300,000 people. $670 million in settlements.
Hinkley Groundwater Contamination: PG&E contaminated groundwater with chromium-6 in California. $333 million in settlements.
Volkswagen Emissions Scandal: Volkswagen cheated on emissions tests. $25 billion in settlements.
Kingston Fossil Plant Coal Ash Spill: A retention pond breached, releasing over 1 billion gallons of coal ash sludge into the surrounding area. Cleanup cost over $1 billion.