The Global 1% and the Climate Threat

The following short video explains the Keysone XL pipeline as the “lynchpin enabling the climate intensive tar sands industry to grow unimpeded.”  It explains the urgent necessity for action quite clearly.  As Obama’s decision on the pipeline approaches, this is something that really needs to go viral:

With such powerfully disconcerting information about the tar sands and the fate of the planet should we see a 2ºC temperature rise (which has become not a matter of if, but when), why is there still even talk of constructing the Keystone XL?  Well, this to the point infographic (below) made by the Transnational Institute can shed some serious light on the subject.  Their State of Power 2013 report has exposed that less than 1% of the world’s transnational corporations, mostly banks, control the share of 40% of global businesses.  Oil and gas make up 7 of the 10 largest companies in the world.  40 of the top 100 economies in the world are companies, with most of this wealth concentrated in the United States (as banks and oil companies).  As well, TNI’s “Dirty Money: The Finance and Fossil Fuel Web” graphic shows the intimate collaboration between some of the largest banks and oil companies.  Exxon Mobil, Chevron, British Petroleum, Royal Dutch Shell, Total, Eni and Lukoil all have executives sitting on boards of JP Morgan Chase, Bank of America, Citigroup, Royal Bank of Scotland, BNP Paribas, and Deutshe Bank.  Exxon Mobil, as but one example of collaboration between finance and fossil fuels, has poured $26 million dollars into climate change denial. Check out the infographic here:




Is it any wonder that the tar sands remain on the table with such extraordinarily powerful backers?  Is it any wonder why citizens and scientists who oppose Big Oil are finding it extremely difficult to have their voices heard by our governments, despite the environmental crises we are hurriedly marching into?  Well, enough is enough –not only for Big Oil, but for big business and its production of big global disparities as well.  A just and environmentally secure future will never be possible if we don’t redress these inequalities by addressing their true causes; neoliberal capitalism.  If private profiteering remains our measure of success, then the Finance and Fossil Fuel Web will eagerly turn our climate threat into a disastrous reality.


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One Comment on “The Global 1% and the Climate Threat”

  1. markus February 1, 2013 at 8:52 pm #

    “We may have democracy, or we may have wealth concentrated in the hands of a few, but we cannot have both.” <– well said.

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