Fossil Fuel Industry Is Now 'in the Death Knell Phase': CNBC's Jim Cramer
By Andrea Germanos
Cramer added that "the world's turned on" the industry as they did with tobacco.
"They're done," Cramer said of fossil fuels on the network's "Squawk Box." "We're starting to see divestment all over the world. We're starting to see ... big pension funds saying, 'We not going to own them anymore."
"The world's changed," Cramer continued. While companies like BP still mark profits, "nobody cares," because "new money managers want to appease younger people who believe that you can't ever make a fossil fuel company sustainable."
"You can tell that the world's turned on them, and it's actually kind of happening very quickly," said Cramer. "You're seeing divestiture by a lot of different funds. It's going to be a parade ... that says look, 'These are tobacco, and we're not going to own them.'"
Oil stocks are in the death knell phase, says @jimcramer. "The world is turning on them...new kinds of money manage… https://t.co/0xhVgbKKLO— Squawk Box (@Squawk Box)1580489834.0
Author and climate activist Naomi Klein said Cramer's comments showed the power of fossil fuel divestment campaigners.
Watch this entire thing: it doesn't matter how well oil stocks are doing, the next generation sees them as toxic an… https://t.co/OV5aABzbQr— Naomi Klein (@Naomi Klein)1580486799.0
350.org founder and author Bill McKibben had a similar takeaway, writing on Twitter Friday, "Thanks to all who fight so hard."
Oil Change International also weighed in on Cramer's comments.
We're glad to see @JimCramer calling out fossil fuel companies as bad investments. Another good reason to ditch: th… https://t.co/psvpn6SzPz— Oil Change International (@Oil Change International)1580488918.0
Cramer's comments on "Squawk Box" came two days after he tweeted that he was "taking a hard pass on anything fossil" — a comment welcomed by Sierra Club executive director Michael Brune.
Smart call, @jimcramer. The @SierraClub agrees! https://t.co/YJkeSJD6yF— Michael Brune (@Michael Brune)1580423801.0
Lindsay Meiman, a spokesperson for 350.org — which has spearheaded the global movement to demand pension funds, university endowments, and other institutions divest from oil, coal and gas companies — said Cramer is only confirming what many market observers already understand.
"The financial tides are turning away from fossil fuels. Coal, oil and gas companies are not only the perpetrators of the climate crisis we're now experiencing, but have also dangerously underperformed markets over the last decade," Meiman told Common Dreams. "As we enter the climate decade, we're demanding polluters pay for their destruction, and that all institutions and politicians cut ties from toxic fossil fuels to reinvest in a world that puts our health and safety first."
Reposted with permission from Common Dreams.
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This week marks the official start of fall, but longer nights and colder days can make it harder to spend time outdoors. Luckily, there are several inspiring environmental films that can be streamed at home.
1. Kiss the Ground<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="ccc5f0c92a5603e68aec39e56b0db02a"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/K3-V1j-zMZw?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p><strong>Streaming On: Netflix</strong></p><p><strong>Premiere Date: Sept. 22</strong></p><p>Between <a href="https://www.ecowatch.com/wildfires-california-washington-oregon-photos-2647585008.html" target="_self">wildfires devastating the U.S. West Coast</a> and <a href="https://www.ecowatch.com/tropical-storm-beta-landfall-2647760268.html" target="_self">storms battering the Gulf</a>, the impacts of the <a href="https://www.ecowatch.com/climate-change/" target="_self">climate crisis</a> can feel overwhelming right now. <em><a href="https://kissthegroundmovie.com/" rel="noopener noreferrer" target="_blank">Kiss the Ground</a> </em>offers an alternative to all of the bad news by focusing on solutions.</p><p>The film, directed by Josh and Rebecca Tickell and narrated by Woody Harrelson, explains how we can heal the Earth through "regenerative agriculture," farming practices that draw carbon dioxide from the atmosphere and into soil as a way to restore soil health, which in turn boosts ecosystems and food supplies.</p><p>"<em>Kiss the Ground </em>shows how feasible it is to make these changes at a grassroots level immediately and make a truly substantive impact with low cost and easy to implement solutions," Executive Producer RJ Jain said in an email. "This is why I got involved."</p>
2. Public Trust: The Fight for America's Public Lands<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="5338f7a2931e356910026e5fd76fac56"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/jsKMTAaj_wQ?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p><strong>Streaming On: YouTube</strong></p><p><strong>Premiere Date: Sept. 25, 2 p.m. EDT </strong></p><p>This <a href="https://www.patagonia.com/films/public-trust/" target="_blank">award-winning documentary</a> tells the stories of Indigenous activists, journalists, whistleblowers and historians working to protect America's <a href="https://www.ecowatch.com/tag/public-lands" target="_self">public lands</a>. The film focuses on three political struggles: the shrinking of <a href="https://www.ecowatch.com/tag/bears-ears" target="_self">Bears Ears</a> National Monument in Utah, the mining of Boundary Waters Wilderness in Minnesota and the opening of the <a href="https://www.ecowatch.com/tag/Arctic-National-Wildlife-Refuge" target="_self">Arctic National Wildlife Refuge</a> to fossil fuel exploration.</p><p><em>Public Trust</em> was directed by David Garrett Byars and produced by Jeremy Rubingh. Patagonia Films, Patagonia founder Yvon Chouinard and actor Robert Redford are executive producers. It will be <a href="https://www.youtube.com/watch?v=OGjnIG7puzY" rel="noopener noreferrer" target="_blank">released</a> on YouTube in time for <a href="https://www.ecowatch.com/national-public-lands-day-2640656776.html" target="_self">National Public Lands Day</a>.</p><p>"Our country is fortunate to have millions of acres of public lands, including National Parks, Monuments, Wildlife Refuges and Wilderness set aside for future generations," Redford said. "Sadly, these lands that belong to you and me are under unprecedented threats from the greed of big corporations, eager to weaken restrictions in the pursuit of profits. Many of our current politicians are also to blame. <em>Public Trust</em> tells the story of citizens who are fighting back. It's a much-needed wake-up call for all of us who want to preserve our unique and wild cultural heritage."</p>
3. David Attenborough: A Life on Our Planet<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="156438a30836a765d7a92982545fc334"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/B_OFZvAd05Y?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p><strong>Streaming On: Netflix</strong></p><p><strong>Premiere Date: Oct. 4</strong></p><p>Beloved nature broadcaster <a href="https://www.ecowatch.com/tag/David-Attenborough" target="_self">David Attenborough</a> has spent his career introducing viewers to the wonders of our planet. In recent years, his footage of albatrosses swallowing <a href="https://www.ecowatch.com/tag/plastics" target="_self">plastic</a> in <em>Blue Planet II</em> has been credited with <a href="https://www.ecowatch.com/2018-fighting-plastic-waste-2624606566.html" target="_self">helping to ramp up</a> the global fight against plastic pollution. Now, in this <a href="https://www.wwf.org.uk/" rel="noopener noreferrer" target="_blank">World Wildlife Fund</a> (WWF)-produced <a href="https://www.attenborough.film/" rel="noopener noreferrer" target="_blank">documentary</a>, he reflects on the defining moments of his career and the devastating changes he has witnessed.</p><p><em>David Attenborough: A Life on Our Planet,</em> which was also produced by Silverback Films and directed by Alastair Fothergill, Jonnie Hughes and Keith Scholey, features an intimate conversation between Attenborough and Sir Michael Palin as the broadcaster reflects on his life and a career that took him to every continent on Earth. In addition to streaming on Netflix, the movie will be available in select theaters starting Sept. 28.</p><p>"For decades, David has brought the natural world to the homes of audiences worldwide, but there has never been a more significant moment for him to share his own story and reflections," WWF executive producer Colin Butfield said in a <a href="https://www.wwf.org.uk/updates/david-attenborough-life-our-planet" target="_blank">statement</a>. "This film coincides with a monumental year for environmental action as world leaders make critical decisions on nature and climate. It sends a powerful message from the most inspiring and celebrated naturalist of our time."</p>
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By Maria Trimarchi and Sarah Gleim
If all the glaciers and ice caps on the planet melted, global sea level would rise by about 230 feet. That amount of water would flood nearly every coastal city around the world [source: U.S. Geological Survey]. Rising temperatures, melting arctic ice, drought, desertification and other catastrophic effects of climate change are not examples of future troubles — they are reality today. Climate change isn't just about the environment; its effects touch every part of our lives, from the stability of our governments and economies to our health and where we live.
<p>Why environmental refugees flee their homes is a complicated mixture of environmental degradation and desperate socioeconomic conditions. People leave their homes when their livelihoods and safety are jeopardized. What effects of climate change put them in jeopardy? Climate change triggers, among other problems, desertification and drought, <a href="https://science.howstuffworks.com/environmental/green-science/deforestation.htm" target="_blank">deforestation</a>, land degradation, rising sea levels, <a href="https://science.howstuffworks.com/nature/natural-disasters/flood.htm" target="_blank">floods</a>, more frequent and more extreme storms, <a href="https://science.howstuffworks.com/nature/natural-disasters/earthquake.htm" target="_blank">earthquakes</a>, <a href="https://science.howstuffworks.com/nature/natural-disasters/volcano.htm" target="_blank">volcanoes</a>, food insecurity and famine.</p><p>The September <a href="http://visionofhumanity.org/app/uploads/2020/09/ETR_2020_web-1.pdf" target="_blank">2020 Ecological Threat Register Report</a>, by the Institute for Economics & Peace, predicts the hardest hit populations will be:</p><ul><li>Sub-Saharan Africa, South Asia, the Middle East and North Africa</li><li>Afghanistan, Syria, Iraq, Chad, India and Pakistan (which are among the world's least peaceful countries)</li><li>Pakistan, Ethiopia and Iran are most at risk for mass displacements</li><li>Haiti faces the highest risk of all countries in Central America and the Caribbean</li><li>India and China will be among countries experiencing high or extreme water stress</li></ul>
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