Russian Asteroid Impact Diamonds and Global Warming Solution

As noted before several times on this blog, the simple solution for global warming is getting the fossil fuel companies on board. We only need to explain to them that the value of their reserves will go up (and the value of their stock as well) if they start pumping and mining much less of the treasure.

They will stop funding the disinformation campaigns. Their political contributions will go in the other direction. In consequence, the next Republican candidate for president will not mock global warming, but those few unfortunate losers who didn’t get the memo and still think there is no problem.

See my global warming science fiction novel “Great News” or this recent post on the necessary antitrust exception.

Now there is an interesting development that serves as an excellent point of comparison.

Christian Science Monitor reports that the Russians sit on a massive deposit of industrial diamonds created by an asteroid impact. Thanks to Grist for the link. That deposit has trillions of carat and is bigger by a factor of 10 than all known world reserves.

The interesting point is that the Russians have known of the deposit for about forty years, but have always kept the information secret.

Why would they do that?

The answer is simple. If they announce vast new reserves they might hurt the prices for their existing diamond mining business.

Exactly in the same way, if the fossil fuel industry takes a clue from that strategy and starts keeping more treasure in the ground and burning less of the Picasso paintings, the value of their stock will go up, not down.

Unfortunately, the fossil fuel companies have still not figured out this simple truth. And the environmentalists also don’t understand it, which leads in turn to their treating the fossil fuel industry as enemies. These companies should be at the very forefront of those fighting for burning less (and making more money in the process). They should be allies of the environmentalists.

Published by kflenz

Professor at Aoyama Gakuin University, Tokyo. Author of Lenz Blog (since 2003, lenzblog.com).

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