People Will Whine About Shell’s Share Buybacks

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A little prediction, people will whine about Shell buying back its own shares:

Shell has a plan to buy back an extraordinary $25 billion of its own shares to help maintain its stock market worth and to return capital to investors.

We know how the thing goes, companies are just enriching capitalists rather than reinvesting in their own businesses. Thereby advancing the economy, improving wages and so on.

Except, umm, aren’t we all supposed to want less being invested in fossil fuels? That is, we positively lust for the sucking of capital our of fossil fuel companies and into something else. Which is what buying back stock does. It moves that capital out of the fossil fuel industry and into the pockets of people who will reallocate it to some other activity.

People do exactly what people demand happens – people whine. Dang, when did the entirety of society become a mother in law?

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