Industry Elites Applaud Saudi Aramco CEO for Calling Oil Phaseout a ‘Fantasy’

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Original article by JAKE JOHNSON republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0).

Saudi Aramco CEO Amin Nasser speaks during the CERAWeek oil summit in Houston, Texas on March 18, 2024.  (Photo: Mark Felix/AFP via Getty Images)

“The fossil fuel industry has always pursued a strategy of delay when it comes to the climate crisis,” said one campaigner. “First, it was focused on casting doubt on the science. Now, it’s all about casting doubt on the solutions.”

The CEO of the world’s largest oil company said Monday that calls to phase out fossil fuels are a “fantasy” that policymakers should abandon, a remark that drew applause from energy elites gathered in Houston, Texas for a major industry conference.

“We should abandon the fantasy of phasing out oil and gas and instead invest in them adequately reflecting realistic demand assumptions,” Saudi Aramco chief executive Amin Nasser told CERAWeek attendees, dismissing the International Energy Agency’s projection that global fossil fuel demand will peak by 2030.

“Peak oil and gas is unlikely for some time to come, let alone 2030,” Nasser said, suggesting oil consumption could continue growing through 2045. That scenario would serve the interests of Saudi Aramco, which in 2022 posted the largest-ever annual profit for a fossil fuel company.

Power Shift Africa, a climate think tank, called Nasser’s comments “outrageous.”

Jamie Henn, director of Fossil Free Media, noted that “the fossil fuel industry has always pursued a strategy of delay when it comes to the climate crisis.”

“First, it was focused on casting doubt on the science,” he observed. “Now, it’s all about casting doubt on the solutions.”

“It’s clear that not only are they not committed to reducing emissions, they’ve actually come to CERAWeek to continue promoting fossil fuel production and extraction and delaying the transition to a just, clean energy future.”

Climate scientists say that a rapid, global transition away from fossil fuel production and toward renewable energy is necessary to avert the worst of the planetary emergency, which is driving increasingly destructive and deadly extreme weather events, sea-level rise, ocean warming, and other alarming phenomena.

But Nasser claimed technologies such as carbon capture—which has repeatedly proven to be ineffective and even harmful—are better at lowering emissions than “alternative energies,” Reutersreported. Nasser specifically criticized wind, solar, and electric vehicles and said that “we should phase in new energy sources and technologies when they are genuinely ready, economically competitive, and with the right infrastructure.”

Just one day after Nasser’s remarks, the World Meteorological Organization (WMO) released a report showing that “renewable energy generation, primarily driven by the dynamic forces of solar radiation, wind, and the water cycle, has surged to the forefront of climate action for its potential to achieve decarbonization targets.”

The WMO said Tuesday that renewable energy capacity increased nearly 50% last year compared to 2022.

But the continued production and burning of fossil fuels is wreaking global havoc, the WMO found, pushing planet-warming greenhouse gas emissions and temperatures to all-time highs.

In the face of such alarming findings, the major oil and gas industry players have rolled back their own weak emissions commitments and—in the case of ExxonMobil CEO Darren Woods—blamed the public for fueling the climate crisis.

“For years we’ve demanded action, not empty words, from Big Oil,” Josh Eisenfeld, campaign manager of corporate accountability, said in a statement before the Houston conference kicked off on Monday. “If you look at their actions, it’s clear that not only are they not committed to reducing emissions, they’ve actually come to CERAWeek to continue promoting fossil fuel production and extraction and delaying the transition to a just, clean energy future.”

Original article by JAKE JOHNSON republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0).

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Continue ReadingIndustry Elites Applaud Saudi Aramco CEO for Calling Oil Phaseout a ‘Fantasy’

Wealth of US Billionaires Hits $5.5 Trillion—Up 88% Since Pandemic Hit

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Original article by CHUCK COLLINS and OMAR OCAMPO republished from Common Dreams under a Creative Commons Attribution-Share Alike 3.0 License.

Jeff Bezos and his fiancée Lauren Sánchez arrive at an event in Milan, Italy on January 13, 2024.  (Photo: Jacopo Raule/Getty Images)

It’s been a rough few years for most people around the world—but not these folks.

Four years ago, the United States entered the Covid-19 pandemic. Forbes published its 34th annual billionaire survey shortly after with data keyed to March 18, 2020. On that day, the United States had 614 billionaires who owned a combined wealth of $2.947 trillion.

Four years later, on March 18, 2024, the country has 737 billionaires with a combined wealth of $5.529 trillion, an 87.6 percent increase of $2.58 trillion, according to Institute for Policy Studies calculations of ForbeReal Time Billionaire Data. (Thank you, Forbes!)

The last four years have been great for particular billionaires:

On March 18, 2020, Tesla CEO Elon Musk had wealth valued just under $25 billion. By May 2022, his wealth had surged to $255 billion. As of March 18, 2024, Musk is at $188.5 billion, more than a seven-fold increase in four years.

Over four years, Amazon founder Jeff Bezos has seen his wealth increase from $113 billion to 192.8 billion, even after paying out tens of billions in a divorce settlement and donating tens of billions to charity.

Three Walton family members — Jim, Alice, and Rob — are the principal heirs to the Walmart fortune. They saw their combined assets rise from $161.1 billion to $229.6 billion.

In 2020, only one billionaire — Jeff Bezos — had $100 billion or more. Today, the entire top ten are centi-billionaires, bringing their collective wealth to a staggering $1.4 trillion.

The only billionaire on the 2020 top 15 wealthiest Americans list to see their wealth decline in four years was MacKenzie Scott. Four years ago, on March 18, 2020, the ex-wife of Jeff Bezos had a net worth of $36 billion. It has declined to $35.4 billion due to her aggressive giving to charity.

For more details on how America’s billionaires have fared since the onset of the pandemic, check out our updates page.

Original article by CHUCK COLLINS and OMAR OCAMPO republished from Common Dreams under a Creative Commons Attribution-Share Alike 3.0 License.

Continue ReadingWealth of US Billionaires Hits $5.5 Trillion—Up 88% Since Pandemic Hit

Morning Star: The imperialist consensus exposes the hollow sham of democracy under capitalism

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I would like to quote all of this editorial but I am unfortunately restricted to quoting only an excerpt. https://morningstaronline.co.uk/article/editorial-imperialist-consensus-exposes-hollow-sham-democracy-under-capitalism

Labour leader Keir Starmer addressing 400 business leaders at the Kia Oval, London, during the launch of Labour Party’s plan for business, February 1, 2024

BRITAIN’S ruling class is eager to carry on the pretence that there is real choice under their political system.

Capitalism promises us that it’s the politicians that call the shots, there are real differences between those politicians and that we’re the ones that elect the politicians and they’re answerable to us.

But as with most tricks, when looked at too closely, reality and the nature of the fraud become clear.

Nowhere is it clearer that there is no real difference between the ruling-class parties than the imperialist consensus on questions of foreign policy, militarism and war.

Rather than questioning the Tory government’s policy or strategy on the burning issues of Palestine or Ukraine, Keir Starmer has bent over backwards (not hard when you’re spineless) at each and every turn to not only stymie any criticism, but to heartily endorse Tory policy.

Britain is a proud western democracy — the oldest in the world in fact: you can stand as a candidate for whoever you want; you can vote for whoever you want; just as long as they enthusiastically cheerlead genocide in 2024.

I would like to quote all of this editorial but I am unfortunately restricted to quoting only an excerpt. https://morningstaronline.co.uk/article/editorial-imperialist-consensus-exposes-hollow-sham-democracy-under-capitalism

Image of UK Prime Minister Rishi Sunak. UK halts aid to UNRWA in Gaza over Israeli allegations that 12 staff from a total of 13,000 were involved in the 7 October 2024 attack on Israel.
Image of UK Prime Minister Rishi Sunak. UK halts aid to UNRWA in Gaza over Israeli allegations that 12 staff from a total of 13,000 were involved in the 7 October 2024 attack on Israel.
Zionist Keir Starmer supports Israel's Gaza genocide.
Zionist Keir Starmer supports Israel’s Gaza genocide.
Continue ReadingMorning Star: The imperialist consensus exposes the hollow sham of democracy under capitalism

Argentina’s far-right libertarian president warns in Davos, “the West is in danger”

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[While a serious issue, there are some amusing parts to this article.]

Original article by ARG Medios at peoples dispatch republished under a Creative Commons Attribution-ShareAlike 4.0 (CC BY-SA) license.

On the morning of January 17, Argentine President Javier Milei gave his first speech at the World Economic Forum in Davos, Switzerland. The far-right libertarian was sworn in on December 10, 2023 and since then has launched all-out attacks on the working class through presidential decrees and omnibus laws, all of which have been vehemently opposed on the streets.

Milei began his speech at Davos by telling those present: “I am here to tell you that the West is in danger. All over the world, leaders who must defend the values of capitalism assume a vision that leads to socialism and poverty. “The main leaders of the world have abandoned freedom for so-called collectivism, which is the cause of the problems.”

The strongest argument of his speech was going to be that capitalism is the only tool to end hunger and poverty in the world, although he added: “the leftist thinking attacks capitalism for being, according to them, unjust. They say it is bad because it is individualistic and they fight for social justice. This concept has become fashionable around the world, but social justice is an unfair, violent idea, because taxes are coercively collected. Nobody pays taxes voluntarily. The State is financed through coercion. If a company generates a good product it will do well, if the State punishes the capitalist for being successful it destroys their incentives, and the cake will be smaller. Collectivism ties the entrepreneur’s hands.”

He also spoke of enemies, who for him are those who use the State as a tool: “everyone. There are no substantive differences. Socialists, conservatives, communists, fascists, Nazis, social democrats, centrists. They are all the same.”

In this same sense, Milei attacked two of the most important agendas at the Davos Forum, gender inequality and climate change: “The first of these new battles was the ridiculous and unnatural fight between men and women. Libertarianism already establishes equality between the sexes. The founding stone of our creed says that all men are created equal, that we all have the same inalienable rights granted by the creator, among which are life, liberty and property,” he maintained.

He went further and said: “the only thing that became of this agenda of radical feminism is greater intervention by the state to hinder the economic process, giving work to bureaucrats who do not contribute anything to society, be it in the format of women’s ministries or international organizations dedicated to promoting this agenda.”

In the same sense, he denied human responsibility for climate change: “another one of the conflicts that socialists raise is that of man against nature. They maintain that human beings damage the planet and that it must be protected at all costs, even going so far as to advocate for population control mechanisms or the bloody agenda of abortion.”

Finally, the only praise in Javier Milei’s speech was for the businessmen, whom he treated as heroes and also told them: “do not let yourself be intimidated by the political caste that wants to remain in power. You are heroes, you are benefactors, let no one tell you that your ambition is immoral, do not give in to the advance of the State, The state is the problem itself, you are the protagonists of history. Long live fucking freedom!

The president returned to Argentina on Wednesday on a commercial flight, after a couple of meetings and a bold speech that was not very widely accepted in Davos. He will face a massive national strike on January 24, called for by all the major trade unions and confederations in Argentina in opposition to his pro-capitalist, pro-businessman policies.

This article was first published in Spanish on ARG Medios.

Original article by ARG Medios at peoples dispatch republished under a Creative Commons Attribution-ShareAlike 4.0 (CC BY-SA) license.

Continue ReadingArgentina’s far-right libertarian president warns in Davos, “the West is in danger”

Coming soon

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I need to start opposing USUK’s intention to start WW3 in support of Israel and the status quo, injustice, genocide, war crimes, and in opposition to human rights and democracy, about how UK not only does not have a mandate but is acting despite huge demonstrated opposition to it’s actions.

Continue ReadingComing soon