Investing in the future costs money and lowers our quarterly profits, just sell it off so the investors get bigger numbers immediately.
And remember: markets are efficient 🤡
One day in the future they will really tear the wires from the wall to increase quarterly profit and The Economist will praise this move
That’s basically neoliberalism: infrastructure, education, healthcare, clean water, all of that costs money. Just sell it off.
Yes as metaphore of social costs it indeed is and always was, but i meant it completely literally.
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We don’t need shell to build solar.
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You have two wars directly affecting major hydrocarbon exporting countries and the strategic reserves of several countries are at a generational low. Shell is likely betting that oil is going to spike, which probably isn’t bad for electrification as a concept.
We’ve also been seeing in adjacent industries that the skills to succeed in hydrocarbon related energy don’t exactly transfer well to non-hydrocarbon related energy. Shell may be bad at building out solar because solar works on different scales than they are used to.
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Looks like Shell will use all their lobbying power to make sure nobody builds solar though
I would have hoped this article would tell me why their CEO has shifted spending back towards oil and gas and away from low-carbon projects.
Because everything stillrunds on oil gas and the pedos are doing everything they can to raise the price and cash in. Like bombing Iran. Suddenly the new oil fields are not wasted…
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