"They're Done": CNBC's Jim Cramer Says Fossil Fuel Industry "In the Death Knell Phase"

[lutherj]

Here’s some positive news . . . Looks like climate activism is having an effect. It could also be that investors believe that renewables are the better investment. I remember reading that the petroleum industry is struggling to replace their retiring workforce.



“The world's changed," Cramer continued. While companies like BP still mark profits, "nobody cares," because "new money managers want to appease younger people who believe that you can't ever make a fossil fuel company sustainable."

"You can tell that the world's turned on them, and it's actually kind of happening very quickly," said Cramer. "You're seeing divestiture by a lot of different funds. It's going to be a parade... that says look, 'These are tobacco, and we're not going to own them.'"

https://www.commondreams.org/news/2020/01/31/theyre-done-cnbcs-jim-cramer-says-fossil-fuel-industry-death-knell-phase

[SWBTATTReg]

1. And just wait for more shoes to drop...the fossil fuel industry will continue to outlaw...

solar panels, wind energy, and other non-fossil fuel industries, pushing restrictive measures in either each state individually or the entire country. We must be aware of such blatant attempts to restrict these measures (while ensuring that such technologies do pay their fair share of the infrastructure put in place to allow vehicles to travel on our roads, etc., e.g., higher taxes on electric or hybrid vehicles to compensate states for the loss in gasoline taxes...

Perhaps one day a reckoning will arrive, where it is clearly in the public good that these technologies are here to stay, but w/ rump around, the industries are under attack and must weather the nonsense being put up by opponents of these fledging industries.

[DBoon]

3. and tax electric vehicles...

.. because it isn't fair that they don't consume gasoline

[Rider3]

2. Doubt it...

because Trump is telling crowds that he'll bring back the cole industry (among other out-of-date ideas). He doesn't want wind farms (gives you cancer and kills the birds, you know). I see no improvement in finding an alternative energy while Trump is still in office. He won't ever invest in that technology.

[DBoon]

4. the cole industry?

Sorry couldn't resist. Never post while hungry.

[CaptYossarian]

8. That previous poster clearly violated Cole's Law.

It's like Murphy's Law, but with cabbage.

[Wellstone ruled]

5. Let's not forget,

All of the Rockefeller family and their Trust sold out their Oil,Gas and Coal interests beginning in 2016 or in that time frame. They moved into Tech related and renewable.

[FiveGoodMen]

6. And they're not going down alone!

[lagomorph777]

7. Not really due to activism. It's just economics.

It turns out that it's now more expensive to burn dead things, than to simply harvest the energy of the sun (directly through solar, or indirectly through wind, hydro, and tides).