Yet Another Nail in the Coffin of the Fossil Fuel Age — Gates Foundation Divests BP Holdings (Ian Walker)

The following post was submitted by Ian Walker

Hi all

As I keep saying look at what they do not what is said.

http://www.theguardian.com/environment/2016/may/12/bill-and-melinda-gates-foundation-divests-entire-holding-in-bp

Excerpt:

“The foundation, which has spent many billions of dollars improving global health, sold its $187m stake in BP between September and December 2015, according to recent regulatory filings to the US Securities and Exchange Commission (SEC).

It had previously dumped its entire $824m holding in ExxonMobil. BP posted a record $6.5bn annual loss in February while ExxonMobil is under investigation about whether it lied in the past to investors about the threat of climate change.”

They are not the only ones.

Do you think those in the know think there is any more future for fossil fuels?

Kind Regards walker

  • GreenWin

    Eventually even the super rich have to get sober about A BETTER, WAY TO MAKE ENERGY. AND leave their fossil-fusion cronies behind. It’s called REAL SCIENCE. THE FOSSIL-FUSION party is OVER.

  • Samec

    At ZeroHedge.com is article with speculation that some central bank is propping prices of WTI and Brent Oil for purpose not to damage commercial banks, who lend billions to crashing frackers and oil drillers.

  • https://www.facebook.com/app_scoped_user_id/100002656573372/ Ian Walker

    Hi all

    As I pointed out several years ago the Saudi strategy is one of managed decline. Maximising market share to take lower margins on higher volume, which means they make the same profit, once they have output ramped up and their competitors are wiped out, only Iran and Russia will be able to compete in a future sub $5 a barrel market.

    All while selling off chunks of the declining assets.

    Their long term oil view is simple it wont be burned it will be used as precursor chemical. So they are moving into the refining business.

    Kind Regards walker

  • http://www.drboblog.com Doctor Bob

    So lets hope these funds go into R&D and industrialization of cleaner alternatives.

    • Eyedoc

      And hopefully all the lame ‘retirement funds’ wake up & get their arses out of old energy stocks soon …..before we have to bail those out too

  • Steve Swatman

    Might one simply suspect that huge increases in oil production by the Saudis, Iranians and Russia will lead to even lower prices, “the big money” needs to get out of oil companies now while its ok.

    No point in losing money on investments.

  • LookMoo

    The request for more info about LENR just based on what is found in a preliminary defence Senate Hearing (House Armed Services Committee) is a “head-up” for business. There are other reports that defence establishment have access to that are less diplomatic.

  • Mordriel

    Well, the Rockefeller family divested from the fossil industry not too long ago, so I was expecting other foundations to follow suit. And, boom! Gates Foundation! Take that, fossil fuel! I say that with a hint of sarcasm, even though I’m pleased. Because, there’s still tons of money in that industry. But, baby steps, mama says… baby steps.

  • Skip

    As always, follow the money!

    • Mordriel

      And the money can take you to frightening places, unfortunately.

    • Motorfot

      Yes, follow the money. Who gets Rich from trading carbon emission rights? Those are the people who fear free energy the Most.

      • roseland67

        The people who wrote the carbon emission laws?

      • GreenWin

        CORRECT! The Climate Gang.