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Thank you! I completely overlooked this difference. That huge removal cost just shows how underpriced oil is given the externalities.
by dillondoyle 5y ago
Thank you! I completely overlooked this difference.
That huge removal cost just shows how underpriced oil is given the externalities.
- jaggederest 5y agoYeah if you do the math and squint a little, virtually all of the economic value of the benefits of oil will be required to be repaid in order to undo the costs. I think over the long term e.g. Exxon is going to be a net-negative business.
- dillondoyle 5y agoExxon in particular seems evil. I just some articles on Guyana check it out if you haven't seen it. I hope we are successful in some of the ongoing litigation like cigarette companies. Specifically for energy corporations I am fine with complete Gov. sanctions/high regulation. Similar to electric companies but strip all shareholder profit until it's all spent cleaning up the mess. Not sorry to be the AOC socialist left on this one lol.