Shell's 1991 warning: climate changing ‘faster than at any time since ice age’

There&#x27;s a concept called &#x27;first mover disadvantage&#x27;. None of these companies are idiots, I&#x27;d bet dollars to doughnuts that they <i>all</i> knew of climate change decades prior to 1991. However the way our system prices externalities (very ineffectively) and focuses on rewarding quarterly earnings rather than a longer term approach creates a total and utter disincentive for any forward thinking CEO to make a big step away from the company&#x27;s core markets.<p>We can hold Shell&#x27;s feet to the fire on this sure, but that achieves nothing apart from disincentivizing self awareness within these large companies. What we need is a way to push the entire industry towards more environmentally sustainable practices not penalize them for talking about it.

If these guys were knowingly creating massive externalities, and they are blamed and penalized for it, how do you put a price on the damage without putting a stop to modern civilization? State AGs are now taking these companies to task much in the same way big tobacco was tried. Not everyone smokes, but everyone participates in petroleum fueled global economy.