alt Hacker NewsBoth are asking for money to extract oil (and hopefully sell it for more money). I don't see why the oil well being already drilled or not should make a difference if I don't want to invest in CO2-producing endeavours.
Both are asking for money to extract oil (and hopefully sell it for more money). I don't see why the oil well being already drilled or not should make a difference if I don't want to invest in CO2-producing endeavours.
The point is that in the secondary market, the oil will be extracted regardless. By you not participating, you actually increase the return on equity for others, making it more profitable. Buying the stock does not add money into the business.
The area for disincentivizing oil production is the political sphere, not the financial sphere. Refusing to participate in secondary market ownership does almost less than nothing to disincentivize the extraction. At least with ownership, you get a say in the firms harm mitigation.