"Stop Investing in Fossil Fuels" – Bill McKibben’s 350.org
I wrote a piece the other day on Bill McKibben’s 350.org, which has launched a national campaign to persuade colleges, universities, churches, foundations, etc. to stop investing in the fossil fuel industry. I went on to say that lower demand for shares of stock will reduce total market capitalization, and therefore diminish horsepower in terms of all the factors that make the industry what it is: legal strength, political muscle, and good will in terms of public relations.
Frequent commenter Glenn Doty challenges me on this, writing:
That’s not going to work. (more…)