Global divestment movement hits $11 trillion, pushes for more – and faster
Global divestment movement hits $11 trillion, pushes for more – and faster - From renew. economy.
Quote :
"The global fossil fuel divestment movement has reached $US11 trillion ($A16 trillion) in funds moved out of fossil fuel industries, becoming one of the
fastest divestment movements in history, a new report as found."
"Climate change risks have received increased attention from financial regulators, who see a
growing necessity for company directors and boards to actively assess and disclose the risks that climate change poses to their ongoing business."
Ok. CXO is
not an energy company. Much worse... for investors. CXO is an energy
dependent company with some stupid idea that it can use polluting diesel, and that no one will notice. That somehow this reliance will all be made ok, by milking the Federal Diesel Subsidies.
But what happens when the global oil/diesel industry is brought to its knees by false flag terrorism (Saudis?), or global divestment initiatives? Summo is hell bent on joining Trump on a war with Iran. How do you think that will play out? "On water matters" will not be discussed.
How much will your mega truck loads of imported diesel from Saudi Arabia via Singapore cost again? Even with your diesel subsidies? Australia only has 22 days of diesel stockpiled at best. If fuel rationing comes in, how will CXO fair in the coming fuel lottery and rationing? Compared to the US military, the ADF, the trucking industry, the beef industry, government usage etc etc?
What was the price of all that imported ferrosilicon really going to be again? (They have never disclosed this btw).
You do know that ferrosilicon is made in shitty third world blast furnace facilities using imported energy? Show me that developing nation that can manufacture ferrosilicon while not being affected by global energy prices and climate change. They will be an energy superpower on the global stage.
I would suggest that many of the cost assumptions in that DFS that means so much to you all are now completely outdated. Further I would say that given the cost trajectories regards recent events, the future does not look rosy at all. Where is the updated plan that takes these issues into account? There isn't one. No new plan. No new technology. Nothing.
These issues are real time, real world externalities that directly affect your investments I would think. Please don't try and get this thread deleted by HC.
CXO, apart from a few pithy one liners in the EIS, have never made a full disclosure about the real world true carbon impacts of this investment scheme of theirs on the environment.
Specifically they have not really documented the real carbon footprint of their inputs, nor the real carbon cost of the actual construction of this proposed operation.
They have never made any disclosure about the very real impacts from the myriad externalities (oil wars, divestment etc) will have on their cost of operations.
Also consider the fact that CXO management have made it abundantly clear that they are not prepared to hedge their energy requirements by using grid energy (cheap and accessible), let alone using solar/renewables. They just reckon Scummo (who loves batteries and renewables) will save their diesel requirements. Good luck with that.
Feel free to discuss matters further. Don't bother with the slander or the innuendoes about my handle.
(20min delay)