Compensation for damage from fossil fuel companies
jeudi 25 mai 2023 à 05:02Arguing that fossil fuel companies owe a total of $200 billion per year in compensation for some of the kinds of damage their products have done.
I fear that arguing about the amount of "compensation" various companies and states ought to pay will act as a distraction from the crucial issue: how to build sustainable power facilities fast and wind up fossil fuel use soon.
The companies will resist reducing the amount of fossil fuels they sell, and they will resist paying reparations. I think the wise choice is to focus on avoiding more damage than on making them pay for it.
Meanwhile, we should certainly tax these companies (and other rich companies) a lot more. I suggest the method I described in https://stallman.org/articles/progressive-tax-on-business-gross-income.html .