About Oil

Justin Worland writes a good occasional newsletter for Time called One-Five Everything Climate and a recent one focuses on the fact that large oil companies are waking up to the fact that the engine that has fueled them for decades may have to address climate change.

He points out both how oil is damaging the environment and at the same time has brought us all the prosperity we value. We blame oil companies for their disinformation and at the same time savour all the benefits they bring us. He quotes Daniel Yergin’s book, The Prize which links both democracy and the rise of capitalism. But Blowout by MSNBC’s Rachel Maddow takes a different stance, noting both its importance and its questionable governance. She calls it “the least well governed industry in the history of mankind.” She stresses its political power as historian Timothy Mitchell does in his book, Carbon Demoocracy. He stresses the importance of oil to the economy. He also notices how it can also enforce authoritarian governance as it has in the Middle East.

All recent - and all providing food for thought.