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this post was submitted on 21 Aug 2025
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Most of the big industrialists are also people in the financial industry. They are concerned only with short term profit, so they are taking advantage of the fact oil and gas are still the main sources of power, and will lobby all the governments to keep that because that way their profits will be maintained. While their profits soar, they will use their profit to buy other financial assets, like real estate or other industries. When oil and gas cease to be profitable, they will abandon it like when they did it with Detroit factories.
This is the thing with today's neoliberal capitalism. Everything is only seen as financial asset. There's no strategical thinking a plan to develop and modernize you country. There's only rent seeking and a tech industry that owns more money through hype and speculation than in actual deliveries. See the richest man in the world, Elon Musk, most of his capital is just speculative, most of his companies are failing to deliver actual tangible results, most of his gains is from hype.