Pluralistic: The super-rich got that way through monopolies (17 Jan 2024)


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Pluralistic: Insurance companies are making climate risk worse (28 Nov 2023)


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Pluralistic: Larry Summers' inflation scare-talk incinerated climate action (20 Nov 2023)


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Pluralistic: The impoverished imagination of neoliberal climate "solutions" (31 Oct 2023)


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Pluralistic: Serializing the opening of "The Lost Cause" (06 Oct 2023)


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Pluralistic: A business model for bankrupting the oil companies(06 June 2023)


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Pluralistic: Ian McDonald's "Hopeland" (30 May 2023)


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Oil is Bankrupt (If We Want It)

Alberta’s Oil Companies Are the Walking Dead.

This figure shows how Alberta’s let-the-future-pay-for-cleanup funding model is playing out. The red curve shows the growth of cleanup liabilities, which accumulate as new wells are drilled and not cleaned up. The blue curve shows the assets that will pay for this cleanup — the industry’s future income (assuming various prices of oil and gas).

Albert’s oil-patch is a zombie, the walking dead. The companies that extract oil there owe more money than they can pay, more than they can borrow, more than they can earn. If they were made to pay their lawful debts, they would all go bankrupt, and, in so doing, would end the extraction of one of the dirtiest, worst sources of oil in the world.

Now, there’s an argument that all the oil companies are busted, Alberta or no. If they were made to pay for the damage they’ve done to our world, the millions their deadly products have killed and the billions they threaten, they would all be cleaned out.

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Pluralistic: 13 Sep 2022 Survival of the Richest


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