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Thu Feb 21, 2019, 10:36 AM

Global warming, Green New Deal, and stupidity

Okay, so traditional energy companies, run by very rich people, want to stay in business, and our supposedly very rich person in the Oval Office is siding with them. So they're all opposed to the idea of recognizing global warming because it could impact their businesses. But it's not just the top people at these companies -- it's also their boards of directors.

Which brings back a story about the Winchester company. They hit it big on rifles and ammo during the Indian push-back period, the Civil War, and the expansion west. But then people didn't need rifles and ammo so much. So, although it's possible that their board was pushing like hell to continue the Indian battles and the expansion, they also came up with an idea: retool and start making tools and stuff that the settlers now needed. And that's what kept them going for years.

It's like a horse-drawn carriage and buggy whip company opposing the car industry. Which I'm sure they did.

But it makes me wonder about some of these traditional energy people fighting like hell to hang on to technologies from one or two centuries ago instead of gradually switching to new technologies. In my book, and IMHO, that's absolute stupidity and useless stubborness. Is it because they're too old to understand new technology, or did they all somehow manage to not learn anything in business school?

Meanwhile, the argument (the politicized argument) is about global warming instead of about some of these people just being damn stubborn and hanging on to buggy whips. Sure, that makes a lot of sense.

Or maybe they don't know that there are very rich people running "new technology" companies too?

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Reply Global warming, Green New Deal, and stupidity (Original post)
grumpyduck Feb 2019 OP
lapfog_1 Feb 2019 #1
rampartc Feb 2019 #2
marylandblue Feb 2019 #3
grumpyduck Feb 2019 #4
marylandblue Feb 2019 #5
2naSalit Feb 2019 #6

Response to grumpyduck (Original post)

Thu Feb 21, 2019, 10:40 AM

1. transformation of horse drawn carriage corporations

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Response to grumpyduck (Original post)

Thu Feb 21, 2019, 10:41 AM

2. the stone age did not end because we ran out of rocks

unlike the buggy whip moguls, the petro monopolists took over the economy and the government,

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Response to grumpyduck (Original post)

Thu Feb 21, 2019, 10:49 AM

3. I worked for an oil company a long time ago.

Knowing oil would run out eventually, they were trying to branch out into solar energy as well as other businesses like chemical manufacturing, coal, wineries etc. They found out that oil workers aren't solar panel makers, coal miners or grape stompers. So they sold off that other stuff and tied their fate to oil because it was the only thing they knew how to do. Which is the same reason there were buggy whip makers to the bitter end.

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Response to marylandblue (Reply #3)

Thu Feb 21, 2019, 10:57 AM

4. I've seen cases like this,

and it usually comes down to senior management trying to manage (or micro-manage) something they don't understand instead of hiring people who know what they're doing and giving them a chance -- i.e., trusting them.

I left a company about five years ago for that exact reason. In my experience, lack of trust often equals lack of self-confidence.

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Response to grumpyduck (Reply #4)

Thu Feb 21, 2019, 11:02 AM

5. Yes that's true. And it's why Berkshire-Hathaway is so unique

Buffet buys good companies and lets them run themselves so he can rake in cash to invest elsewhere. Few CEOs know how to leave well enough alone.

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Response to grumpyduck (Original post)

Thu Feb 21, 2019, 11:25 AM

6. The big ugly elephant in the room is

Greed. That plays a mighty big role here. Greed for wealth and unbridled power over everyone else. That's what they want and they aim to see that no person, place or thing can stop them form obtaining that goal.

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