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06/02/22 10:38 PM #84    

Edna Chun

 

Colleagues,

 

I just received this message from the University of California, fyi.

Effective June 30, 2022, companies that own fossil fuel reserves will be removed from the fund options in the UC Retirement Savings Program - 403(b), 457(b) and DC plans.

UC is making this change because the Chief Investment Officer to the Regents has determined that the long-term prospects of companies that own fossil fuel reserves no longer meet the financial criteria for inclusion in the fund offerings for the Retirement Savings Program. The removal of fossil fuel-related companies will reduce the long-term financial risks associated with fossil fuel reserves. This reduction in risk is consistent with the approach already implemented in the UC Pension, Endowment and Working Capital

 


06/03/22 09:53 AM #85    

 

Edward McKelvey

The University of California announcement is carefully worded.  It emphasizes the long-term financial prospects of companies owning fossil fuel reserves and the risks surrounding those prospects.  To me that sounds like a call on the current high level of oil prices relative to some long-term norm and not like a decision to divest on moral or ethical grounds.  A decision to divest on those grounds would regard the financial prospects as irrelevant.  See what they say when oil drops to $50/bbl.


06/03/22 12:18 PM #86    

 

Daniel Miller

I don't quite follow the argument.  On a strictly financial basis, doesn't it make more sense to sell fossil fuel stocks now when they are high rather than when they are on the way down to irrelevancy?  If they go to $50/barrel, it's because either there is a glut (unlikely given the market control) or because renewable energy is taking over and there would be no reason to buy them hoping they would rebound.  That would relegate fossil fuel to the same place buggy makers found themselves a century ago.  What am I missing?


06/03/22 04:18 PM #87    

 

Ralph Shapira

Edward McKelvey:  they have to say it's for financial reasons, even though that's just a cover story, because if they admitted it was a moral stand the Chief Investment Advisor could be accused of not doing his or her job.

 


06/04/22 12:29 AM #88    

 

Richard Zitrin

Agree with Ralph. They don't want to say it's political.


06/04/22 10:15 AM #89    

 

Edward McKelvey

Dan, that's my point.  And to Ralph and Rich, as for whether the primary reason is financial or divestment, we'll see if hey have a different posture at $50/bbl.  Rig now nothing in what Edna passed on allows one to tell hitch is the primary motive.


06/04/22 10:20 AM #90    

 

Edward McKelvey

Further on the significance of $50/vbl, the statement --as I read it -- emphasized the indirect ownership of oil reserves that stock in these companies conveys.  If you look at it that way the level of the price relative to some (perceived or assumed) long-term norm becomes a reason to sell at a high price and buy at a low price.  Obviously the level of the price also affects revenue so it becomes a balancing act between the effect of a high price on revenue (a reason to own the stock) and the likelihood that the price will fall (a reason to sell).


06/04/22 10:24 AM #91    

 

Edward McKelvey

...and the price, like most commodity prices fluctuates wildly for all kinds of reasons, real or perceived.  Only two years ago the futures price closest to delivery was -$35/bbl.  So $50 is well within thr range of possibility. 


06/04/22 04:03 PM #92    

 

Ralph Shapira

Agree that it's a fool's errand to try to guess the long term future price of oil.


06/04/22 06:09 PM #93    

 

Paula Gordon

Our* Letter to the Board of Trustees is explicitly and imperatively based on values, both indivually and institutionally. 

While these are overriding and grow out of our collective sense of JUSTICE indivisible, there are, of course (as noted above) strong economic reasons as well.

When looking through a wide lense at the world, I turn to "The Guardian" (for its excellence and its long-term commitment to being non-profit, i.e. beyond the control of the few, supported by those who sustain it.)

I invite you to add this to your thoughts about the economics of fossil fuels -- which in my opinion, is anything but a "fool's errand":

"People in US and UK face huge financial hit

if fossil fuels lose value, study shows

Strong climate action could wipe $756bn from individuals’ pension funds and other investments in rich countries"

* While not acknowledged earlier, I am HONORED to be among the contributors to that Letter.  I continue to follow both (a paraphrase of) Charles Darwin -- "All you can do is do your best, you can never know the outcome" -- AND -- my beloved Congressman of 30+ years, John R. Lewis' "When you Pray, Move your Feet" from a West African proverb.

 

https://www.theguardian.com/environment/2022/my/26/people-in-us-and-uk-face-huge-financial-hit-if-fossil-fuels-lose-value-study-shows?CMP=share_btn_link


06/05/22 01:47 PM #94    

 

Frances Hagberg (Graham)

Writing from Minnesota at this time: I’ve read with interest, sadness, appreciation and frustration the comments about science and the environment. There’s a weariness on reading too. Thank you to those who have taken the time and effort in writing and presenting your views.  Here are a couple random additions to the discussion.

In New Mexico in 2020-21 winter I found  beautiful dying large song birds on my property. I held some in my hands, frustrated there seemed no way to rescue or save them. Horrible.That year Arizona was burning. Then Colorado. Smoke dimmed the sun on some days.The birds were dehydrated and when it got cold they fell from branches and died by the thousands in New Mexico that year.

I haven’t seen those beauties since. My birdseed lasts way longer than it used to in New Mexico and the finches have disappeared from both Minnesota and New Mexico at my feeders. Now the cardinals haven’t been back since the bird flu hit Minnesota. (That was before the fires in New Mexico).

Something awful beyond words is happening no matter who says what.

I’ve wept more than once over seeing fewer bees, bumblebees, insects of all kinds and I miss the song birds and the families of finches. I have a hard time watching  PBS nature shows.

The fireflies seem few and far between in Minnesota. The weather is uglier and meaner.  With the bird flu here there’s been death of all sorts in raptors and domestic flocks. Millions of deaths. I am not blaming it on any one phenomenon but something about the weather has become fearsome and loathsome in the midst of all that I personally witness in Minnesota and New Mexico. Minnesota is way hotter than it used to be – look at the statistics.

My physical world has changed so much. In New Mexico we have not had the monsoons anymore for a few years (such a funny term for short afternoon rains in August and September in the mountains).

Louise Erdrich wrote of old Natives sitting silently after their forests had been felled. Knowing there was nothing they could do.

How does seeing the difference between the nature of our childhood and what we now have make us feel? Powerless? That our own deaths are closer at hand? What can we do? Can we at least admit to our powerlessness to each other? (Not a very Oberlin-idea grant you). Is there something we can do? Something meaningful and engaging to silent members of the class too?

We are now rather on the old side of life, fellow Class of ’68 writers. I appreciate maintaining vigor in thought and discussion. I do. Yet, we are largely more outside the wheels of power than ever. We have turned over what we’ve created largely to others.  That doesn’t mean we can’t speak and matter.

At the same time I feel like many of us are as much strangers to one another as we were when we were young. Yes I hear individual “voices” in what people write and I recognize their positions. (Bernie’s comes to mind).

Is it possible we might make a bigger difference in each other’s lives and hence in others if we somehow overcame showing up merely as intellectual points of view? (I wonder how Thich Nhat Hanh would have reacted to the discussion in this forum – he who aggravated the North and South Vietnamese regimes enough to have to repair to France).

When I read the words of the men writing, I see few if any words that come from the heart. The anguish of what we see happening is horrible.

I do not understand Dick Hobby’s position in part because it seems to simply say “Do nothing unless there is 100 percent unanimity” – which is unachievable.  His favored scientist has a bent toward disagreeing with the larger more established group of scientists. And he seems satisfied to stop there. Would you have us do nothing about anything, I wonder.

I have sorted out over time as much as possible for me not getting caught up in the kick that righteous anger can provide. I favor helpful strategies for finding emotional resilience in the personal and bigger strategies that tend to be useful in the world of political, enviromental and social action.

As to signing petitions:

I am one of those people who is willing to take action based on what “may” make a difference AND at the same time I am one of those people who recognizes that it is foolish to take a position just because feels better than doing nothing. Taking action for a purpose has to have support in the universe of facts to justify the opportunity value of not doing something else. In addition, and equally important, is the question of whether I am in a solid position to justify second guessing someone else who has authority in the first place. There can be so much looking over the shoulder of someone in a position of authority that it becomes sport.  Even if my own position may be better, not everything should be changed by external consensus. It's a balancing act.

None of us has endless amounts of energy. Age 75 seems for me a time of what comes next for the remainder of my life. (After all I have several horses, and I see that riding may not be the best activity for me anymore. I thought I’d be able to ride into much older age from others I’ve known who have done so, but I am questioning myself, and it is hard).

In other words I’m not sure the choices I have made so far should remain unexamined for the future. I’m not sure it’s wise for me to think I know enough to tell Oberlin how they should invest. I want to do things that matter. Contribute where it can make a difference. I am puzzled, perplexed and sad about what I see. How do we deal with the mundane day-to-day including that the deli counter uses so much plastic (I agree with Rich about how we’ve been misled)? My world is so beautiful and yet so fragile. I need all the advice I can get that helps me live well into the uncertain future. Do we listen well enough? Do we hear ourselves?

Sincerely, Frankie Graham


06/05/22 02:01 PM #95    

 

Ralph Shapira

Thank you Frances for your troubling, thoughtful reflections.


06/05/22 03:41 PM #96    

 

Richard Zitrin

Thank you, Frankie,so much, for this thoughtful post. And warm regards. - R


06/06/22 08:01 AM #97    

 

Jean Poppei (Eisenberg)

I’m grateful for your post, Frances. Thank you.

 


06/06/22 01:05 PM #98    

Barry Mallis

I was very moved by your thoughts and insights, Frances. Perhaps I can conjure some small ray of sunshine in an attempt to stem the bad news...about birds. Here in central Arizona, at about 4,300', we have seen birds on our feeders that we never before notices. Habitats on the move? 
We read with deeply troubled feelings SW Audubon's messages about the dieoff of birds in NM. And yet, about two years later, we have Bullock's orioles, northern cardinals, black chin and Anna's hummers, purple finches, canyon towhees and much more. Some are first-time visitors to our tubes and platforms. Perhaps they are all canaries in the coal mine of severe, irredeemable drought, come to pay last respects to us humans. In the meantime, Melanie and I do our best to provide water and seed while hoping for relief from the so-called monsoon. Thank you for your reflections. They certainly meant a lot to me.

 

 


06/06/22 08:22 PM #99    

 

Robert Wolfe

Francis,
Thank you for your heart-felt words and thoughts. I, too, often feel the anguish of our biosphere and shed tears for it. Our heart helps us feel and be aware of problems and can tell us to act. Our heart often tells us how to act with other individual people. But our intellect is often essential for finding solutions to the problems that our heart alerts us to. 

Do any remember the Mahoning River in north east Ohio that was a fire hazard because of all the toxic materials that were dumped into it? It is now a relatively pristine park area with clean water, forests, and trails. Thanks to the Clean Water Act and local activism. See https://businessjournaldaily.com/mahoning-river-reclaims-past-life/#:~:text=%E2%80%9CThe%20lower%20Mahoning%20River%20remains,Warren%20to%20New%20Castle%2C%20Pennsylvania.

Do any of us remember walking around Pittsburg, New York City, or Los Angeles in the 1960s and not being able to see mountains in the distance and finding that our clothing was grimy from pollution at the end of the day? Those cities now have mostly environmentally pleasant neighborhoods to live and walk in. Thanks to the Clean Air Act. See https://www.epa.gov/clean-air-act-overview

With age, I have become much more aware of my failings and limitations. But I find that it is enjoyable to savor some true successes and to look for new ways to contribute. 

I share two personal "successes" below:

Jan and I installed solar panels over a decade ago and produce slightly more electricity than our house uses. Detroit Edison is furious about people like us and still wins many battles in their fight to control our energy use. But we are slowly winning the war. Join us! It is already much more than a movement and is now becoming an unstoppable force.

I spoke at a public discussion forum about closing down a nearby dirty nuclear power plant several years ago, rather than letting Detroit Edison build another plant on top of the remains of the old one. I was but one small voice among a few, but the new plant was not built.

Perhaps talking about "successes" might help more of them blossom.

Robert


06/06/22 11:17 PM #100    

 

Daniel Miller

Good on Frankie and Wolfie.  Both of you are saying things that need to said, and pointing to useful actions that can be taken.


06/07/22 07:45 AM #101    

 

Liz Ryan (Cole)

might sharing successes be the focus of a discussion when next we meet in Oberlin? and, because we need many more successes, looking for successes to build on?  

 


06/07/22 11:36 AM #102    

 

Ted Morgan

I join others in thanking you, Frankie.  Very moving words!  And while (now) living in a beautiful part of New Hampshire, I mourn the fact that I can no longer sit on our screen porch in the evenings listening to the 2-4 wood thrushes that until this year were audible --their aggregate numbers now halved, mostly by human development as we continue to chase the "good life."  The same forces that feed global warming and the death rate from forest fires.  I'm pretty sure many of us grieve for our planet; it's virtually a part of daily life these days.  Yes, the beauty (and the new migrating birds --thanks Barry) is still so remarkable, so life affirming, yet underneath is this the awareness of destruction, decline and death (including our own).  I trust others have read Elizabeth Kolbert's The Sixth Extinction.
 


06/07/22 01:22 PM #103    

 

Dick Hobby

 

First I would like to thank you, Robert Wolfe, for your valiant work in shutting down the nuclear power plant!  Bravo!  As you know my approach is to read carefully the arguments and ideas on both sides and then see which side has the better evidence and reasoning.  The down side of nuclear is much greater than the up side so I would phase out all existing nuclear plants and certainly build no more.  Anyway thank you, Robert, for your excellent work in shutting down that nuclear plant.

Which leads me to responding to Frances Hagberg Graham's statement:  "I do not understand Dick Hobby’s position in part because it seems to simply say “Do nothing unless there is 100 percent unanimity” – which is unachievable.  His favored scientist has a bent toward disagreeing with the larger more established group of scientists. And he seems satisfied to stop there. Would you have us do nothing about anything, I wonder."

On the contrary, Frances, I am very much in favor of action about everything!  I like to read carefully both sides and then decide which action to take or recommend.  There will never be unanimity on any issue as human beings are always at odds with each other.  So unanimity is not my goal and it is impossible anyway.  I simply study each issue carefully and then arrive at what I see as the side having the better evidence and then say:  take action!  For example:

1   shut down all nuclear power plants and build no new ones as nuclear is much too dangerous

2   use lots of coal and build more coal power plants as it is plentiful and can now be burned cleanly

3   continue to use oil and gas

    I hope, Frances, I have clarified things for you.

Best wishes,

Dick

 


06/08/22 08:31 AM #104    

 

Herbert Ziegler

Thank you, Frankie, for your heartfelt comments. As always, you are thoughtful and articulate, and without fear of revealing your true self. I confess that I am so involved in myself that I have little time or bandwidth for taking action on anything. (Although I am proud to say I installed solar panels on my roof six years ago.) 

What I am most thankful for from my Oberlin experience, other than good friends and feelings of camaraderie with all classmates, is learning how to think critically. This is a complex skill I am still working on that requires thoughtfulness; curiosity; philosophical, scientific, and humanitarian knowledge; compassion; creativity; travel; openess; careful analysis; and, especially in this toxic political climate, resistance to conspiracy thinking.

It seems that some brains are wired for conspiracy thinking, but like everything else about who we are as individuals, both nature and nurture can take us there. Although conspiracies exist, they do not explain everything, and positing them without real or well reasoned evidence does not make them so. I'll stop here: this is how my brain works. I will end up talking about everything that pops into my head. Glad to see an active discussion here. I miss snack bar and late night dorm discussions (not to mention class discussions). I look forward to seeing as many of you as passive at the reunion next year.

 

 

 


06/08/22 09:13 PM #105    

 

Ralph Shapira

I just posted on my profile my idyllic story of growing up in the wilderness of the Western Pennsylvania Appalachians.  It’s a paean to nature with an optimistic aspect — it describes the great re-wilding of the mountains since I first lived there 70 years ago.  It’s only a few pages long, and I hope some of you might enjoy it.  I would welcome any comments.

 


06/09/22 11:09 AM #106    

 

Tom Thomas ('69)

Hi, Ralph! So that members of the classes of 1967 and 1969 will also be able to read your post, I've inserted a couple of photos from your profile and added the story to our new website for the projected 2023 cluster reunion, www.obie676869.com. It's in the Recent Publications section. Twenty-three alumni from 1968 have joined the new site so far, and of course you're invited to sign up as well. We hope to have ten times that many by the time the reunion takes place a year from now.


06/09/22 11:17 AM #107    

 

Ralph Shapira

I've gotten some generous comments from classmates on the growing-up-in-the-country piece that I posted to my profile.  I've also just added some pics from that long-ago time to my photos.  I'm having a devil of a time getting the pics in the order I want them, but they're there.


06/10/22 04:53 AM #108    

 

Richard Zitrin

Tom, great hat! it looks, well, OLD!


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