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> You could take every penny the oil companies have and it would barely make a dent in the problem. Citation needed. The top 10 oil companies [1] had a cumulat
by calcifer 7y ago
> You could take every penny the oil companies have and it would barely make a dent in the problem.
Citation needed. The top 10 oil companies [1] had a cumulative $2.5 trillion dollars in revenue in 2017. I'd say that'd go a long way in climate change R&D.
[1] https://en.wikipedia.org/wiki/List_of_largest_oil_and_gas_companies_by_revenue https://en.wikipedia.org/wiki/List_of_largest_oil_and_gas_co...
- onetimemanytime 7y agoValue would go to zero the minute you announce confiscation or whatever we call it. And revenue is different from money in the bank or assets.
- Aunche 7y agoRevenue, not profit. Oil is very low margin. Oil companies makes about 7 cents per gallon of gasoline. That's a lot less than the amount of money that is collected from gasoline taxes. https://www.forbes.com/2011/05/10/oil-company-earnings.html#a79a3ca2dc83 https://www.forbes.com/2011/05/10/oil-company-earnings.html#...
- WillPostForFood 7y agoSo, nationalize oil sales revenue to fight to raise money to climate change. See any problem there?