alt Hacker NewsWhy 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.
Replies
> it just misses a base load component right now.
I’m sympathetic to the intent of your argument, but man, that’s a hallava gotcha there. Other than nuclear there isn’t a compelling story for a base load source of green energy. And all the new-gen nuclear tech is a long shot for safe, cost efficient, rapid scaling right now.
The optimal strategy for short term oligarchic revenue maximisation is a mixed strategy of mostly fossil fuels with some green tech.
The optimal strategy for long term biosphere habitability is a mixed strategy of mostly green tech with a tiny amount of fossil fuels exclusively for those metal smelting roles where arc furnaces and biofuels are unsuitable.
Investment portfolios dominated by technology that lifts everybody up are less profitable than greedy choices of risky investment, per some of the finer details of the mutual fund separation theorem.