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I was wrong to oppose divestment....

Discussion in 'Energy, Environment, and Policy' started by nwdiver, Feb 11, 2015.

  1. nwdiver

    nwdiver Active Member

    Feb 17, 2013
    United States
    #1 nwdiver, Feb 11, 2015
    Last edited by a moderator: Mar 13, 2016
  2. neroden

    neroden Happy Model S Owner

    Apr 25, 2011
    Ithaca, NY, USA

    I divested for pure economic reasons (not political ones). I would still invest in an oil company which promised to do *zero* oil exploration -- which extracted oil from old fields, sold it, and mailed the proceeds out as dividends. However, all the major oil companies are instead wasting their profits on "exploration", which isn't finding any profitable oil. So they are *bad investments* -- the management is *squandering the profits* rather than giving them to the stockholders.

    I believe a number of other apolitical investors have now realized that this is what's going on -- read the articles about the high level of spending on "exploration" at Exxon and the lack of increased reserves from doing so.

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