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Interesting ideas, but still seems behind the times with regard to how the world needs to re-think economics to avert a climate change apocalypse. So lines like this from the story seem also backwards:
Even so, these two innovative facilities, authorized in the CARES Act, were rolled out too slowly and months later have made only a handful of loans, largely because the terms of the loans are needlessly onerous. Why is politics to blame? Both Democrats and Republicans took aim at the facilities. Democrats chastised the Fed for making midsize oil companies eligible, and Republicans scoffed at the idea of a “blue state bailout.” In turn, the Fed decided to essentially do nothing.
I think bailing out oil companies if one is serious about the threat of climate change is a huge mistake. The whole addicted to GDP growth to create jobs model has to change to reduce carbon emissions, and it will be extremely difficult to do so. Yet most economists remain wedded to the GDP growth at all costs model. At least let capitalism do its normal job with the worst polluters and let them go broke if they got themselves into trouble. There's no need to prop them up with a bailout for some jobs that are killing the planet.
Comments
https://globalpolicyjournal.com/blog/19/11/2018/interview-climate-change-product-how-capitalism-values-nature
https://nature.com/articles/s41467-020-16941-y?fbclid=IwAR0gG2meyHC3HzeFKu0gcd3CtvjPMQGCJzc5n3aNDOVjUvpVyktC8jyFr4Y
https://journals.sagepub.com/doi/10.1177/0486613410395896?icid=int.sj-full-text.similar-articles.2