Oil Divestment

I am impressed that the oil divestment movement is doing so well, but while I applaud the commitment to divest, I argue that for every stockholder that divests there must be a stockholder that invests. In other words, quite simply there must be a buyer as well a seller.

The risk is that the ones who step in to buy are the ones who don’t care what the companies do – so the worst traits and behaviour are given more free rein – more shortcuts – more Gulf Of Mexico oil spills.

In other words, the unintended consequences of oil divestment may be worsen the situation, not improve it.

Or perhaps the tack is different – make oil the bad actor and thereby make it easier for businesses that are already in the oil business to move to green energy. That might work.