Vermont's Attack On Big Oil Is Pandering Not Climate Policy [Forbes]
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Source: Forbes
Vermont has passed a bill intended to charge oil companies for the damage climate change has caused. Lee Wasserman of the Rockefeller Family Fund describes it this way in a recent New York Times op-ed: “When you make a mess, you clean it up.” This is simple but misleading. For example, if a contractor accidentally spills a load of paint in a stream, is the manufacturer responsible? If the farmer responsible when someone deep fries a stick of butter in corn oil? So, let's parse this. First consider the politics. The suit naturally attacks big, profitable oil corporations. Why? Well, corporations are bad (except Ben & Jerry's), big corporations are worse (except Apple), big corporations that make big profits are immoral (except Telsa), but big profitable oil corporations are different. And by penalizing the oil companies, the bills' supporters are avoiding the politically sensitive policy of taxing consumption or carbon emissions directly. Don't worry, is the message, the cost will
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