Writing recently in TheNation, Chris Hayes drew an intensely unnerving parallel between the use of fossil fuels as an energy source and the use of slave labor — not a moral parallel, but a financial one, though money and morality have a perversely symbiotic relationship. Where there’s money to be made — especially enormous quantities of it — moral justifications come awfully cheap.
Hayes points out that the movement to end dependence on fossil fuels, drastically reduce carbon emissions and reverse global warming faces a financial hurdle of staggering proportions: “. . . the total amount of known, proven extractable fossil fuel in the ground at this very moment is almost five times the amount we can safely burn,” he writes. Possession of this unexcavated carbon is claimed by global corporations: It’s theirs to pull out of the ground, and it’s worth . . . uh, somewhere between $10 and $20 trillion.
But there is, it turns out, a precedent for divesting rich and powerful people of a comparable amount of wealth, Hayes says. It was called the abolition movement.