Wednesday, July 10, 2019

Andrew Critchlow's July 9, 2019 S&P Global Article "OPEC is playing into Thunberg’s hands on climate change"

 Andrew Critchlow's July 9, 2019 S&P Global article is "OPEC is playing into [16-year-old] Thunberg’s hands on climate change." Here are gems from the article:

"The head of the oil cartel [OPEC’s Secretary General Mohammed Barkindo]– which pumps just under a third of the world’s crude – was quoted last week saying that attacks leveled at producers by a 'growing mass mobilization of world opinion' had become 'perhaps the greatest threat to our industry going forward. [. . . .] children have been mobilized to demonstrate [. . . .] They are beginning to infiltrate boardrooms and parliaments.'"

"All music to the young ears of Thunberg. The Swedish teenager described the comments as 'our biggest compliment yet' in a brief tweet to her army of 723,000 followers on the social media platform."

"Invited to the UN in New York this September, she plans to get there without air travel to minimise her carbon footprint."

"Thunberg managed to inspire an estimated 1.6 million children to walk out of school classrooms around the world in March to demand action on climate change. Her influence has grown impossible for most democratic governments to ignore."

"Doors will get harder to open for Barkindo and an oil-producing industry that is increasingly being branded as toxic by investors and politicians alike. Access to capital is very slowly being choked off by investors [ . . . .] For example, Norway’s $1 trillion sovereign wealth fund is actively ditching most of its oil-producing investments. [. . .]  Japan’s gigantic $1.4 trillion Government Pension Investment Fund has placed an emphasis on applying ESG principles to its portfolio and is actively involved in the Group of Twenty Taskforce on Climate-related Financial Disclosures."

See the Thunberg videos I posted December 4, 2018. Harlan Howard's 1950s comment about country music seems to fit here: "Three Chords and the Truth"

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