New York City is making the McKibbenite gesture of no longer receiving any of the profits from corporate production of fossil fuels. To what effect? More money for other cities and capitalists, and not much else, on one side. On the other, something truly harmful — perpetuation of self-satisfaction and delusion among the very people who ought to be pushing for ecological reconstruction of our towns and our society.
Anton Davis explains the point well on today’s CounterPunch:
Divestment [from fossil fuels corporations]…is the equivalent of the patient being told diet and exercise can cure their late stage cancer. The patient must be given a clear diagnosis and asked if they wish to undertake the treatment which will save them. The survival of the planet will then be for its inhabitants to decide.
DbC isn’t sure if divestment is even that strong a medicine, actually, though Davis’s point is a good one. How does divesting from massively internally profitable businesses do anything to hurt those businesses? It’s not like Exxon is or soon will be a money-losing operation.
Call us here at DbC when NYC says it is going to ban automobiles and advocate nationalization of energy corporations. Until then, here’s hoping Houstonites enjoy the cash New Yorkers won’t be getting as they continue to smugly skirt the topic of cars-first transportation…