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Tim MacDonald's avatar

“So you need a mechanism for places where there is no oil in the ground to inflict some hurt on Big Oil”

Another strategy “for transitioning away from fossil fuels in a just, orderly and equitable manner” (COP28) is to mobilize Pensions & Endowments that control money with the mission, the duty and the scale to come together in a new global consortium to:

One. Buy up hydrocarbons companies out of public markets ownership, Private Equity-style.

Two. Put them into prudent stewardship through equity payback to a fiduciary cost of money, Real Estate Equity-style.

Three. Direct them to become, and support them in being, positive contributors to a global initiative to rapidly redesign and reconstruct our global energy supply ecosystems to be purpose-built for energy sufficiency that comes complete with habitat longevity and social equity, NASA-style.

This requires a global fight to retake control of this money from the Markets that have captured that money, and are using this public money for their own private gain.

This fight is happening in New York, with Wong vs. NYCPERS.

It is happening in Maine, where a corrupted interpretation of fiduciary duty is being asserted against legislative mandates for divestment.

It will happen in many more places.

THIS is the fight for a new social narrative that will support a new social contract and a new sociology of accountability of social institutions for their institutional exercise of institutional authority true to their institutional purpose.

It is the fight for the soul of humanity in the 21st Century.

One,

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Bryan Alexander's avatar

Go Vermont! You can do it!

(I know. I lived there for almost 20 years.)

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