American Elephants


You Must, You Must, You Must Divest, Because… by The Elephant's Child

divestFI

Friday is apparently the kick off for “Global Divestment Day,” though it is a two day event. Climate activists will try to stir up a lot of college kids and campus hangers-on into marching and carrying homemade signs to scare college administrators into acceding to activists’ demands to sell off any fossil fuel-related equities in their endowment portfolios, because — sustainability.

Where to start? If you ever hope to get a job in the American economy or any of the industrial world’s economies, you should be aware that those economies run on fossil fuel. There is, for the foreseeable future, no other choice. Wind and solar energy don’t produce enough energy to be of any significant use, and to produce any energy at all require 24/7 backup from conventional power plants fueled by — fossil fuels. Climate activists have been lying to you for years. Wind is intermittent. Solar is too diffuse. The major greenhouse gas is not CO², but water vapor, more familiarly known as clouds. You are not doing something positive for the climate, you are being used.

Divestment of fossil fuel stocks could significantly harm an investment portfolio. Investing in something that everyone needs is usually a good idea, as opposed to investment in things like Solyndra (bankrupt) or the giant Ivanpah solar array (losing money and killing birds in very large numbers). So you want to march to make your university’s endowment to collapse? Bright idea. Your college costs will just go up sharply.

If you pay the college regularly, take out enough student loans, and in general behave yourselves, you still have no say whatsoever about the college endowment. The endowment is built of the savings and investments of many generations of previous students who have expressed their gratitude to their alma mater by leaving them some money. If you study hard and really learn, you may eventually with hard work, become rich, and able to add to your university’s endowment.

The reason you have been admitted to a college or university is in the hope that over four or more years the faculty can drum enough information into you that you can hope to get an entry-level job if you do manage to graduate. You are there because you don’t know anything yet, and the school and your parents are hoping that some of it will take.

You are messing up that faint hope by investing your time and your parent’s money in marching and drinking and smoking pot and trying to be activists about some cause which you don’t understand, but feel very passionate about. Social Justice is crap — there is no such thing. Justice refers to the body of laws and the Constitution of our country. If you spend more time in the library and less time in the streets, you may be able to avoid encountering the justice system, which would be wise. And do try not to embarrass your parents.


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