Bill Moyers & Naomi Klein: How Climate Change Is an Historic Opportunity for Progressives
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NAOMI KLEIN: The problem with that is that they also measured how much the fossil fuel companies and countries who own their own national oil reserves have now currently in their reserves, which means they have already laid claim to this. They already own it. It's already inflating their stock price, okay? So how much is that? It's five times more. So that means that the whole business model for the fossil fuel industry is based on burning five times more carbon than is compatible with a livable planet. So what we're saying is, "Your business model is at war with life on this planet. It's at war with us. And we need to fight back."
So we're saying, "These are rogue companies. And we think in particular young people whose whole future lies ahead of them have to send a message to their universities, who, and, you know, almost every university has a huge endowment. And there isn't an endowment out there that doesn't have holdings in these fossil fuel companies. And so young people are saying to the people who charged with their education, charged with preparing them for the outside world, for their future jobs, "Explain to me how you can prepare me for a future that with your actions you're demonstrating you don't believe in. How can you prepare me for a future at the same time as you bet against my future with these fossil fuel holdings? You do the math and you tell me." And I think there's a tremendous moral clarity that comes from having that kind of a youth-led movement. So we're really excited about it.
BILL MOYERS: What do you mean rogue corporations? You're talking about Chevron and Exxon-Mobil and BP and all of these huge capitalist or institutions.
NAOMI KLEIN: Well, rogue corporations, because their business model involves externalizing the price of their waste onto the rest of us. So their business model is based on not having to pay for what they think of as an externality, which is the carbon that's spewed into the atmosphere that is warming the planet. And that price is enormous. We absolutely know that the future is going to be filled with many more such super storms and many more such costly, multibillion-dollar disasters. It's already happening. Last year was-- there were more billion-dollar disasters than any year previously. So climate change is costing us. And yet you see this squabbling at, you know, the state level, at the municipal level, over who is going to pay for this
NAOMI KLEIN: The public sector doesn't have the money to pay for what these rogue corporations have left us with, the price tag of climate change. So we have to do two things. We have to make sure that it doesn't get worse, that the price tag doesn’t get higher. And we need to get some of that money back, which means, you know, looking at issues like fossil fuel subsidies and, you know, to me, it's so crazy. I mean, here we are post-Hurricane Sandy. Everyone is saying, "Well, maybe this is going to be our wakeup call." And right now in New York City, the debate is over how much to increase fares in public transit. And they want to, the Metro Transit Authority wants to increase the price of riding the subway, you know, the price of riding the trains, quite a bit. And so how does this make sense? We're supposedly having a wakeup call about climate change. And we're making it harder for people to use public transit. And that's because we don't have the resources that we need.