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<<Even Blackrock is divesting from fossil fuels.

"Ethical investing" has been a fringe strategy for decades. I expect that will continue.

Around the world, "progressives" and environmentalists are being ejected from ruling government by voters who expect to continue using fossil fuels.

World CO2 production goes up every year, and that's going to continue indefinitely. If Germany and California want to shoot their economy over global warming, that's likely only to last until exploding energy costs cause voters to throw them out of political power.

If environmentalists do happen to develop substitutes for fossil fuels that are cheaper and more reliable than existing fuels, those have a chance of being adopted ----but it wont really matter much to global warming issues.

France has been a model for reducing dependence on fossil fuels for half a century, but of course environmentalists hate all that nuclear power. Their hate for nuclear power is at least as great as their moaning and groaning about global warming.

In short, don't sell your Exxon Mobil stock. They've been making money for investors for 150 years.

Seattle Pioneer
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