A New 21st Century Citizenship in a New 21st Century Global Commons of Fiduciary Money As
THE HEROES OF CLIMATE ACTION
TAKING CONTROL OF THE PROBLEM
AWAY FROM THE PEOPLE
WHO ARE GETTING RICH
BY PERPETUATING THAT PROBLEM
What is the climate problem?
A Warning from Science
“The world…will be much harder for us to live in.”
Written Testimony of Diana M Liverman Regents Professor of Geography and Development University of Arizona
Hearing on “Solving the Climate Crisis: Drawing Down Carbon and Building Up the American Economy”
United States House Select Committee on the Climate Crisis
April 30th 2019
The world that Science is talking about is the world of Nature into which we all are born, and out of which we make for ourselves, through enterprise and exchange, the world of technology choices in which we live, as a safe home for humanity, of comfortable sufficiency.
Climate science is teaching us that Temperate Earth is created and maintained by keeping the carbon densities in earth’s sky chemistry within a certain range. Too much carbon and the thermodynamic balance between solar heating and radiant cooling of the earth changes. The earth gets hotter. More lands become tropical.
One important way in which carbon densities are being held within a Temperate Earth range is photosynthesis and fossilization.
Photosynthesis captures energy from the sun in carbon bonds that form carbohydrates: plants.
Fossilization transforms those carbohydrates into hydrocarbons: coal, oil and methane gas.
When we burn those hydrocarbons to release that energy, to light the darkness, heat the cold, cook our food and power our machines, we also release the carbon back into earth’s atmosphere, raising the carbon density in earth’s sky chemistry, and shifting earth from Temperate to Tropical.
We have to stop doing that. Or the jungle is going to take over our land.
Which means we have to rapidly restructure our entire global energy economy that has come to be monopolized by fossil fuels,
Commissioning new earth-interactive energy technologies that will not increase the carbon densities in our sky chemistry, transforming Temperate Earth into Tropical Earth, sized and timed to the
Decommissioning of existing energy extraction from hydrocarbons activities
At climate scales
In climate times
Replacing energy extraction from hydrocarbons with innovative, new earth-interactive energy capture and conversion technologies, for energy parity, social equity and habitat longevity.
This work does not increase total energy capacity. It is a one-for-one replacement. Replaced energy extraction from hydrocarbons is retired. Permanently.
A net Net-Zero increases in energy supply. Net-Zero GROWTH in the economy.
Which means we cannot finance this work through the Markets.
So, where are we going to get the money?
Do we even need Money to fix climate?
Can’t we just make Government make laws to stop the polluters from polluting, to make the carbon emitters clean up their emissions?
We could, IF the climate problem was a carbon pollution problem. Then, we could just use pollution control solutions to solve the problem: regulation to compel self-regulation.
But Climate Science is actually showing us that climate emissions are only the second link in a 7 links chain of cause-and-consequence that equates carbon chemically bound into hydrocarbons to temperate habitats for humans on earth.
Wrong Framing = Wrong Solution
We need a new way, a third way.
We need The Fiduciary Way.
Commissioning Art-Science Thinkers to work with Engineers, Enterprising Visionaries, Elected and Appointed Government Officials and Civil Society to design a new global energy economy of bioregionally appropriate, earth-interactive energy capture and conversion technologies, networked across bioregions for the security of redundancy and efficiency in the use of energy for technological sufficiency, social equity and habitat longevity in the 21st Century, and beyond…
Mobilizing Fiduciary Money to buy hydrocarbon enterprises out of public markets ownership:
- to set them free from The Growth Imperative of Neoliberal Financialization, and
- placing them into prudent stewardship where they will be supported in participating in a strategy of replace-to-retire
Beginning with BP
- ~$89 Billion acquisition price
- 7.5% cash-on-cash, bond equivalent fiduciary minimum
- > 10% with evergreen “tail”
- 28 years to fiduciary fulfillment, on a 0% sinking fund basis
- 1% to Syndicate Curator
- Surplus retained by enterprise for ownership earn back
- Stewardship Support for Transitioning from an Integrated Oil Company to an International Energy Company