Joe Mac
Well-Known Member
More evidence that billionaires shouldn't be allowed to exist:
The Executive Summary says that they concluded that quite apart from the 3,300 or so billionaires, the wealthiest one percent in the world emit twice as much carbon dioxide as the bottom 50%. The top one percent, about 80 million people, are a big carbon problem, because if they go on as they are, their CO2 emissions alone will be 30 times larger than is compatible with keeping the heating of the earth to only 1.5°C above preindustrial times– the goal of the 2015 Paris Climate agreement.
Zeroing in on 150 billionaires in the sample, a tiny proportion of the top one percent numerically but a significant proportion of the latter’s wealth holdings, the study found that together they had a stake in 183 companies that is valued at $2.4 trillion.
If you calculate how many greenhouse gases are emitted by these 183 companies and look at how much of them is owned by each billionaire, you come to the conclusion that each of these fabulously wealthy persons is responsible for the emission of 3 million tons of carbon dioxide each year. An average person is estimated to emit 2.7 tons of CO2 every year. Thus, a million times more.
One Billionaire emits a Million times more CO2 than an Average Person, as Protesters block Private Planes at Amsterdam
Ann Arbor (Informed Comment) - Oxfam has a new study, Carbon Billionaires: The investment emissions of the world's richest people. The Executive Summary says that they concluded that quite apart from the 3,300 or so billionaires, the wealthiest one percent in the world emit twice as much carbon...www.juancole.com
How have we not stormed the Bastile. Because they really are saying “let them eat cake” to those in poverty right now.
And the centre wonders why there has been a shift to the hard right. SMH.