alt Hacker NewsThere's also a prisoner's dilemma situation. Suppose you're some wealthy media magnate promoting culture war distractions from your portfolio of asset strippers and polluters, thinking of defecting to team decency.
That hypothetical you can look around at the rest of the global political class and see that the rest of the establishment will destroy the livability of the biosphere whether that hypothetical you starts putting all of your money into unions, green technology and BECCs or not and conclude that the only available choice is whether to be poor in a collapsing world or rich in a collapsing world.
Why would investing in green tech make you poor? That's what's wrong with that argument.
Moving away from fossil fuels is cheaper. Green energy is very cheap, it just misses a base load component right now. It's just that the people benefiting are different ones. And those people are going to lose sooner or later anyway, because in addition to climate change, fossil fuels are also finite.
The only reason trump is on the oil bandwagon is because many of his buddies are benefiting from it. And probably because he's still pissed at the Scotland windmill thing.
But doing the right thing doesn't have to make you poor. It will benefit everyone including the investors.