Rockerfellers join socialist cult

[Saigon]

For years we have been hearing on this site that renewable energies only existed because of massive subsidies - an argument that has always seemed a little odd given that subsidies for fossil fuels have traditionally dwarfed those for renewables.

But now it seems even the Rockerfellers have changed teams. Possibly they are secretly in on a global socialist conspiracy run by Angela Merkell and David Cameron, or they actually see which way the wind is blowing...

From BBC...

Heirs to the Rockefeller family, which made its vast fortune from oil, are to sell investments in fossil fuels and reinvest in clean energy, reports say.

Rockefeller Brothers Fund director Stephen Heintz said dryly that "everyone noted the irony" that a foundation built on oil wealth would now be leading the charge out of fossil fuel.

Heintz said the move to divest from fossil fuels would be in line with oil tycoon John D Rockefeller's wishes,

"We are quite convinced that if he were alive today, as an astute businessman looking out to the future, he would be moving out of fossil fuels and investing in clean, renewable energy," Mr Heintz said in a statement.

Actor Mark Ruffalo, who also signed the pledge, told the conference: "These are not silly people, these are people who know how to deal with money."

BBC News - Rockefellers to switch investments to clean energy

 

[MisterBeale]

Terrific. Let me have their Carbon fuel shares.

 

[Shrimpbox]

They have tried this before and lost their investment. I am intrigued on two fronts. One, I think the so called divestment will be minimal. Two, if any new technology under the radar like lock heeds fusion announcement comes true then renewable energy will become a marginal business.

The Chinese have a proverb that says wealth will only last for three generations. Once you go from a hard driving, inspirational, foresighted, tough, alpha male( or female) to the pantywaists running the fund the loss of wealth cannot be far behind.

 

[PoliticalChic]

They have tried this before and lost their investment. I am intrigued on two fronts. One, I think the so called divestment will be minimal. Two, if any new technology under the radar like lock heeds fusion announcement comes true then renewable energy will become a marginal business.

The Chinese have a proverb that says wealth will only last for three generations. Once you go from a hard driving, inspirational, foresighted, tough, alpha male( or female) to the pantywaists running the fund the loss of wealth cannot be far behind.

A lot of folks have caught on to that truth...
"Shirt Sleeves to Shirt Sleeves in Three Generations"

Shirt sleeves to shirt sleeves in three generations is an American translation of a Lancashire proverb, “there’s nobbut three generations atween a clog and clog.”
Shirt Sleeves to Shirt Sleeves in Three Generations Corp Latest Michigan Business News and National Articles www.corpmagazine.com

 

[Old Rocks]

Rothschild.

 

[Mad Scientist]

So how many of you guys got the impression that they're gonna' sell Standard Oil? They're not.

They're just eliminating Fossil Fuel "Investments" from their Charitable "Fund" which I'm sure has tax advantages. That's all. Nothing more.

This reminds me of when everyone freaked out when Soros sold his Silver. Turns out he was selling his "paper holdings" or "futures". He hadn't sold any of his Silver.

 

[westwall]

Yep. Just more propaganda to baffle the savages.....and the savages are so easily fooled. It must have been that public education they are so interested in forcing on my child.

 

[Shrimpbox]

Neat article chic, thanks

 

[Crick]

Yep. Just more propaganda to baffle the savages.....and the savages are so easily fooled. It must have been that public education they are so interested in forcing on my child.

Pray tell, why would the Rockefellers want to "baffle the savages"?

 

[Toro]

I don't know why these guys are divesting their oil and gas shares. There is good money to be made in the build-out of the shales.

Also, as much as I support the Green Revolution, there hasn't been much money to be made in most of the industry. Perhaps that will change in the future.

 

[Crick]

If you were looking at long term investments, I should think it would be obvious that you should move away from fossil fuels.

 

[Toro]

Depends what you mean "long-term." 100 years? Maybe. 20 years? Not a chance.

Most people think "long-term" as 5 years or so.

 

[westwall]

Yep. Just more propaganda to baffle the savages.....and the savages are so easily fooled. It must have been that public education they are so interested in forcing on my child.

Pray tell, why would the Rockefellers want to "baffle the savages"?

"Green" energy is failing. Unless you can get a whole bunch of people to throw their money down the rat hole it WILL fail. Hence, baffle the savages and they'll give you their money. That way you can get your money back and they suffer the failure. Classic Ponzi scheme.

 

[Crick]

So you believe the Rockefellers are knowingly participating in Ponzi scheme. Or do you believe they've been taken in by one put together by climate scientists and liberals? Are they crooks or stupid?

 

[westwall]

So you believe the Rockefellers are knowingly participating in Ponzi scheme. Or do you believe they've been taken in by one put together by climate scientists and liberals? Are they crooks or stupid?

I think, based on widely available Public Records, that that is very clear. The taxpayers quite nicely paid off all the investors in Solyndra (you know Pelosi's family and friends) and were then stuck with the bill when the company folded a year later. There is a list here on the Forum that shows all the "Green" companies that have failed, how much they got from the taxpayers and who their sugar daddy (or suger momma) was in Congress.

 

[Toro]

Green technology is not a Ponzi Scheme. That the government subsidizes it doesn't make it a Ponzi Scheme. "Uneconomic" is not the same thing as "Ponzi Scheme." And that it is uneconomic now does not mean it will be so indefinitely.

Billions of private capital have gone into Green tech. Lots of very smart people are investing in it.

I don't know if it will be successful, and I don't think foundations should be divesting their dirty energy over it, but to dismiss of out of hand demonstrates a misunderstanding of what is happening in the market place.

 

[Crick]

I'm wondering how this shift in investment makes the Rockefellers socialists, as the OP claims.

 

[westwall]

Green technology is not a Ponzi Scheme. That the government subsidizes it doesn't make it a Ponzi Scheme. "Uneconomic" is not the same thing as "Ponzi Scheme." And that it is uneconomic now does not mean it will be so indefinitely.

Billions of private capital have gone into Green tech. Lots of very smart people are investing in it.

I don't know if it will be successful, and I don't think foundations should be divesting their dirty energy over it, but to dismiss of out of hand demonstrates a misunderstanding of what is happening in the market place.

So long as the government rewards failure with taxpayer money it is a Ponzi scheme (robbing peter to pay Paul). There is no penalty for failure which in turn limits true original thought and research and development. There is no incentive to do anything new and extraordinary.

That's why, after 40 plus years of development, PV modules are little better than when I first installed them on my house. When I first installed them my efficiency was around 11%. Now if you pay a goodly amount you can up that to 13%. I'm sorry but that is pathetic. Theoretical maximum is 24% and they are nowhere near that. And, based on past performance, they will never get there.

 

[Toro]

Green technology is not a Ponzi Scheme. That the government subsidizes it doesn't make it a Ponzi Scheme. "Uneconomic" is not the same thing as "Ponzi Scheme." And that it is uneconomic now does not mean it will be so indefinitely.

Billions of private capital have gone into Green tech. Lots of very smart people are investing in it.

I don't know if it will be successful, and I don't think foundations should be divesting their dirty energy over it, but to dismiss of out of hand demonstrates a misunderstanding of what is happening in the market place.

So long as the government rewards failure with taxpayer money it is a Ponzi scheme (robbing peter to pay Paul). There is no penalty for failure which in turn limits true original thought and research and development. There is no incentive to do anything new and extraordinary.

That's why, after 40 plus years of development, PV modules are little better than when I first installed them on my house. When I first installed them my efficiency was around 11%. Now if you pay a goodly amount you can up that to 13%. I'm sorry but that is pathetic. Theoretical maximum is 24% and they are nowhere near that. And, based on past performance, they will never get there.

That's not a Ponzi Scheme. Calling it a Football Game is as accurate as calling it a Ponzi Scheme.

And I have no idea where you get this idea that there is no penalty for failure. There is penalty of failure. We fund venture capital that invests in green tech. Like most venture, it fails and the investment gets wiped out.

 

[bripat9643]

For years we have been hearing on this site that renewable energies only existed because of massive subsidies - an argument that has always seemed a little odd given that subsidies for fossil fuels have traditionally dwarfed those for renewables.

But now it seems even the Rockerfellers have changed teams. Possibly they are secretly in on a global socialist conspiracy run by Angela Merkell and David Cameron, or they actually see which way the wind is blowing...

From BBC...

Heirs to the Rockefeller family, which made its vast fortune from oil, are to sell investments in fossil fuels and reinvest in clean energy, reports say.

Rockefeller Brothers Fund director Stephen Heintz said dryly that "everyone noted the irony" that a foundation built on oil wealth would now be leading the charge out of fossil fuel.

Heintz said the move to divest from fossil fuels would be in line with oil tycoon John D Rockefeller's wishes,

"We are quite convinced that if he were alive today, as an astute businessman looking out to the future, he would be moving out of fossil fuels and investing in clean, renewable energy," Mr Heintz said in a statement.

Actor Mark Ruffalo, who also signed the pledge, told the conference: "These are not silly people, these are people who know how to deal with money."

BBC News - Rockefellers to switch investments to clean energy

The Rockefeller offspring have been in the Socialist camp for a long time now, moron. It's typical for the offspring of self made millionaires to be socialists. After all, they have no real talents or abilities themselves. They don't understand the business of making money, so they put their trust in government.