[lbo-talk] Wall Street getting worried about climate change

[Mark S]

><http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=INIY650D9L35#>
>
>Bush Faces Wall Street Pressure on Global Warming (Update1)
>
>By Kim Chipman
>
>Sept. 28 (Bloomberg) -- The deadliest U.S. hurricane season in more than a 
>century has some Wall Street investors sounding like members of the Sierra 
>Club.
>
George Monbiot just wrote about the rise of similar sentiment among the 
British industrial establishment:

http://www.monbiot.com/archives/2005/09/20/a-world-turned-upside-down/

A World Turned Upside Down

The corporations are demanding regulation, and the government is refusing to 
give it to them

By George Monbiot. Published in the Guardian 29th September 2005

Climate change denial has gone through four stages. First the fossil fuel 
lobbyists told us that global warming was a myth. Then they agreed that it 
was happening, but insisted it was a good thing: we could grow wine in the 
Pennines and take Mediterranean holidays in Skegness. Then they admitted 
that the bad effects outweighed the good ones, but claimed that it would 
cost more to tackle than to tolerate. Now they have reached stage 4. They 
concede that it would be cheaper to address than to neglect, but maintain 
that it’s now too late. This is their most persuasive argument.

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