By JR on Thursday, November 12, 2015
Amusing: The Green/Left is trying to put money into the hands of bloated capitalists
They don't think they are doing that but that just shows how stupid they are. It is a chronic mental disease for the Left not to think things through and the nonsense below is is a prime example of it.
Let's say that they do get some people to "divest" from shares that Greenies have demonized. What will that do to the company concerned? Nothing. It is generally a matter of indifference to a public company who holds its shares.
And what do the Greens think happens to the shares? They get bought by someone else, by some bloated capitalist in all likelihood. But if the Greenies have a stunning success with their campaign and a big lot of the shares concerned come onto the market, what will happen? The price will fall: Good ol' supply and demand. So the bloated capitalist who buys the shares will get them cheap. He will acquire a desirable asset at a bargain price. Will he thank the Greenies for that? He should but he is more likely to snigger at what dummies they are
And note also below the ethical desert that is the Green/Left. They are condemning the accused before a trial -- a fundamental breach of natural justice. Let me put it so plainly that even a Greenie might understand: "Under investigation" does not mean "guilty"
A leading environmental group has called on Prime Minister Malcolm Turnbull to ditch his investments in ExxonMobil, a company that’s under investigation by the New York Attorney General for allegedly covering up the truth about climate change for decades.
On Friday it emerged that Exxon had received a subpoena requesting documents relating to internal studies from the late 1970s on, which allegedly revealed the extent of the damage done to Earth’s atmosphere by products like those the oil giant peddles.
Climate advocacy group 350.org was the first to realise Turnbull is a beneficiary of the alleged cover-up, which internationally renowned environmentalist Bill McKibbon has branded an “unparalleled evil”.
The Prime Minister’s pecuniary interests register reveals that Turnbull invests in the SPDR S&P 500 fund which, in turn, lists ExxonMobil as its second largest holding.
Exxon’s annual report for 2014 claims the company has paid out $128 billion to shareholders over the past five years, but it’s not clear how much of that money has made it into Malcolm Turnbull’s pocket.
On Friday the Australian Campaigns Director at 350.org, Charlie Wood, called on Turnbull to put his money where his mouth is ahead of key United Nations negotiations to be held in December.
“In a few weeks, world leaders will meet in Paris to come up with a plan to tackle the devastating climate impacts that Exxon has fuelled,” Wood said. “Australia won’t be taken seriously in Paris if our Prime Minister turns up with investments in a company that has worked for decades to make meetings like Paris fail.”
The Prime Minister’s office has not responded to requests for comment from Friday morning, but given his outspoken stance over a number of years on the need for climate action and “the importance of [accurate]science,” the multi-millionaire is likely to face questions from other quarters too.
Note: I use the Leftist term "bloated capitalist" above just as mockery of the Left