Posts Tagged ‘greed’

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Pickens proves yellow, not green

November 14, 2008

I was frustrated to see T Boone Pickens run away from his wind turbines.  It looks like he’s only in favor of green power if there is very short term profit.  He said that he was suspending the project because natural gas prices are low.

This is exactly the type of short term thinking that drives Wall Street greed that over turned our economy.  I thought that Pickens was actually trying to leave a legacy, not just an inheritance.

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Now I’m really scared…Financial meltdown foreshadows sustainability crisis

September 20, 2008

I’d been a disappointed proponent of allowing capital markets to place a value on sustainability.  I naively believed that anticipation of rising energy costs and emissions controls would drive investment in alternatives.

Today, it’s obvious that our market system is so greed driven that it can’t plan a quarter ahead let alone build something with returns over several years.  To compond problems, our government is handing out “get of out jail free” cards to Wall Street that further absolve of fatal lacks of strategic sustainable  thinking.

I mostly agree with the Government’s actions but think that we’re entering a era of required external oversight to ensure sustainable business practices. 

If you carry this thinking just a little farther, it’s obvious that the markets are never going to be able to foster sustainable technologies and practices without similar external (governmental) pressure.  I still think that economic incentives are the right approach for changing individual behavior, but short-term profit and entrenched interestes (oil & gas, etc) create too much pressure for the market figure this out alone.

While I would like to see less government involvement, we have to demand legislation that creates “artificial” incentives for sustainablity (alternative energy, recycling, and conservation).   This is our wake up call: the mortgage meltdown is a paper loss because the homes still exist – sustainablity is about real assets being lost forever.