The following is a guest-submitted post.
On Tuesday, Columbus hosted one of the most prominent green activists today, Bill McKibben, on his nationwide
“Do The Math” tour. For most of his career, McKibben has acknowledged the widespread deprivation his agenda would cause and tried to put a happy spin on it, but that’s not the message he brought to the Capitol Theater.
McKibben is on the attack full-time now, and his argument, on its face, is that it would be risky to use even a fraction of the world’s known fossil fuel reserves, so we should divest from fossil fuel companies.
But does his plan even make sense?
The top 10 companies with the largest oil and gas reserves in the world, with 71 percent of proven reserves, are all owned by governments like Iran and Venezuela. Divestment from investor-owned American companies wouldn’t solve more than a tiny fraction of the problem, it would just give foreign state-owned industries the upper hand.
As Ohioans know, those American companies are investing heavily in production of natural gas, the use of which is a substantial part of the reason U.S. emissions have been dropping.