Rather than buy carbon off-sets, why not invest in oil exploration?

Question

That way, you off-set the oil you use by investing in companies that find more oil. You will also benefit by participating in the profit and growth of the oil industry.

Answer 1

Trick question, eh?  Two reasons.  Either is a reason why promoting oil use is a really bad idea.  Together, they show that any person who promotes oil use in a Western democracy is an idiot.

1.  Because of global warming.  It won't kill us all, but it will do serious economic damage.  Details here:

http://www.reuters.com/article/scienceNe...

http://www.ipcc.ch/SPM6avr07.pdf

2.  Because oil is certain to get more expensive.  And some of the money we pay for imported oil goes to fund terrorists.  As it was once said "The capitalist will sell you the rope to hang him with."

EDIT - Huh?  Exactly where did I say oil was a declining industry?  I said it was certain to get more expensive.  Want to deny that?

EDIT 2 - Doesn't matter.  Encourage oil use and more money goes to terrorists.  It doesn't matter exactly where _our_ oil comes from.  It's a worldwide market.  By the way, the North Slope oil is maybe 2 months supply for the world.  "A drop in the bucket" covers it.  It could make the oil companies a billion or two, but in the long run it means nothing.

Answer 2

I already do.  My natural resources stocks are performing quite well, thank you.  30-40% incease in value in the last year alone.  Just because I believe in environmental responsibility doesn't mean I don't like money.  I do wish I could find more focussed portfolios to invest in though.

I also do not need to buy carbon credits, I'm not interested in carbon credits; I live a very green lifestyle, I am guilt free in the CO2 department.  But I am interested in selling carbon credits if you want to offset that black smoke coming out of the back end of your '75 reliant.

Answer 3

With China and India's demand for fossil fuel, plus the thawing of polar ice opening up more of the Arctic to oil exploration, an investor would have to be crazy to "pass" on such opportunities for the sake of following Al Gore like a sheep being led to financial slaughter.

Answer 4

Because Al Gore doesn't own any oil companies but he just so happens to own the company he pays his carbon offsets to.  Even if he didn't, carbon offsets are a joke anyway.  What's the logic...you can pollute as much as you want to as long as you have money?  How is that going to cut greenhouse gas emissions?  Carbon offsets are just another way for the fat cats to get fatter.

Answer 5

One of the projects proposed by actual engineers, unlike the IPCC gravy train riders, is to have CO2 pump it into oil wells and increase the production of the well. Given the tax credits available carbon offsets are used to increase oil production and the government helps pay for it. I bet that twists the enivronmaniacs into knots.

Answer 6

Because we need to REDDUCE the amount of oil we are using.  Burning oil and coal is the main source of the CO2 that is causing global warming.

Besides, anyone who invests in the fssil fuel industry is throwing their money away.  Its becoming obsolete.  There are better and cheaper ways to produce energy--new technologies and innovative methods.  That's where the money is.  Ten years from now-probably sooner--oil is going to be a declining industry.

Answer 7

Then again, why not invest in alternative fuel exploration and development?  The oil industry will profit and grow without my help.