Peabody Energy Corporation Message Board

  • t_e_n_k_a_y t_e_n_k_a_y Aug 29, 2013 9:06 PM Flag

    Some people think we are Devils

    From reneweconomyDOTcom:

    "Bill McKibben, the US environmentalist, has very successfully mobilised a new fossil fuel divestment campaign. His ‘do the math’ tour, where he explains that in order to have an 80% chance of keeping global warming below 2°C we can only emit 565 gigatons of carbon dioxide, but that burning all the currently proven oil, gas and coal reserves would release almost five times this ‘carbon budget’, has been instrumental in mobilising activists around the world.

    "To try and prevent the ‘carbon budget’ from being breached, McKibben has mobilised a divestment campaign via 350. org and this has borrowed heavily from previous divestment campaigns against apartheid and tobacco. Since the campaign started about a year ago, six colleges and universities have committed to divest, along with 17 cities, two counties, 11 religious institutions, three foundations and two other institutions. While this is clearly a small number, the movement has grown fast and we are likely to see many more institutions divesting over the next 12-18 months."

    My Comment: We have a full-fledged demonization of coal and people like you and me who invest in coal stocks are looked upon as blind or evil or both. At any time, some university endowment fund may dump its Peabody stock because of pressure from environmentalists. The name 350. org derives from "Scientists say that 350 parts per million CO2 in the atmosphere is the safe limit for humanity." and their website says we are already at 400 PPM. From their viewpoint, any institution that owns coal stocks is endorsing the destruction of the planet. This inquisition against coal is definitely a factor in driving coal stocks down to the absurdly cheap levels we are seeing.

 
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