Goldfinger

That is of course the title of the seventh James Bond novel by Ian Fleming published in 1959. But in this post I want to talk about the plot of the 1964 film.

In both the book and the film the villain attacks the United States gold reserve at Fort Knox.

But there is a difference. In the book it is just a bank robbery on a larger scale. The plan is to physically move the gold.

In contrast, in the plot of the film, the idea is to detonate an atomic device inside the vault and render the gold useless by making it radioactive. That in turn will substantially increase the value already substantial gold holdings of the main villain.

Phaseout Profit Theory (one of the main points of this blog) is the same idea on a larger scale.

The equivalent of the atomic device are climate change regulations forcing the holders of fossil fuel reserves to keep most of them in the ground. And just like removing all the gold bars at Fort Knox would obviously increase the value of the remaining gold on the market, removing 80 percent of the world’s fossil fuel reserves from the fuel market would dramatically increase the value of the remaining 20 percent.

But in contrast to the Goldfinger plot, fossil fuel companies don’t need to engage in large scale criminal behavior to get that result. All they need to do is to strongly decrease their investments into developing new resources, as well as their production from existing assets. And then lean back and watch prices explode.

Good for the climate and good for their own bottom line.

Published by kflenz

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

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