Here is the thing Dave...
fossil fuel companies are in no way comparable to drug dealers. Let me explain why:
If COP 28 was a conference on the "War on Drugs" instead of a global greenwash stunt, I doubt that beside government representatives, law enforcement agency delegates, reformed drug users and narcotic medical specialists, people would actually invite drug dealers to such a conference, with the aim of coming up with a solution - to what is a really difficult and complex problem, i.e. drug use.
In contrast, I understand that out of the 70,000 to 80,000 delegates to COP 28 about 2,400 are representatives from the fossil fuel industry. Even the President of the COP 28 is also the head of Abu Dhabi National Oil Company - a state-owned fossil fuel company. God only knows how many of the politicians and "scientists" attending are also on the fossil fuel lobby's payroll...
Now, with all respect to the complexities of finding solutions to drug abuse, man made climate change is - imho - an orders of magnitude more difficult problem to solve. However, the fossil fuel industry has managed to capture the regulation -of its industry - not only at most government regulator levels, but even at COP. Even the richest drug dealers have never been that successful.
The fossil fuel industry is now trying to push the idea of it being an "essential part of the energy transition", when in reality it is the biggest roadblock.
My own expectation is that if the COP process is hijacked by the fossil fuel industry, as it currently appears to be the case, then there will be more pressure building outside of this process (... think Extinction Rebellion on steroids). To this growing protest and pressure, the fossil fuel industry will respond by making governments come down with ever more draconian anti-demonstration legislation.
Meanwhile, over at COP, increasingly more wild promises and empty gestures will be made and celebrated (e.g. paltry "Loss and Damage Fund" contributions and other similar window dressing), without subsequent real meaningful action. A classic case of a "Big Lie" being replaced by an ever bigger "Big Lie" - as at each COP, the issue of man made climate change is becoming more urgent, the empty promises made at these conferences will escalate, while the fossil fuel interests will ensure that not sufficient action will be undertaken
Now you proposed the wild idea that fossil fuel companies ought to underwrite everyone's insurance.
My idea is even crazier: Remove the limited liability company concept - i.e. the idea that as a shareholder you can rip off society while the sun shines and when things go wrong, you simply walk away from the problems that you created AND profited from.
Under this scenario, nuclear power companies (e.g. TEPCO) would not be able to ask the tax payer to pay for nuclear accident remediation, but the shareholders would (note TEPCO is 56% government owned). Fossil Fuel company shareholders would be liable for any damages - be they environmental, health or military in nature - as determined by the courts for decades or centuries to come, if the science can demonstrate a link between their actions and the damage that is being done. Shareholders in such ill-fated ventures would carry liability for the periods of holding and profiting from damaging company activities - and carry that liability with them for the duration of their lives and pass it down to their future generations.
I believe the "limited liability" company concept was only introduced in the mid-19th century. Maybe it isn't such a great idea.
Abolishing the concept will lead to considerable dislocation for a period of time until people understand that they must consider the long term consequences of their investments. Some shareholders' lives will be ruined (imagine having unwittingly invested in an asbestos company). However, victims of unscrupulous companies and tax payers will be better off in the long run, as fewer people will provide capital to society damaging businesses.
My hunch is that nuclear energy and fossil fuel companies - not to mention HC bots - would baulk at the idea.
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