It's only money ... but try telling yourself that after you've just kissed off a tidy sum for reasons that remain obscure even to yourself.
I keep going back to the last time my stomach felt like there was a load of laundry in there because of money -- that awful morning in 1973 when my boyfriend and I lost the Jackson.
A $20 bill meant something back then. The breakfast we'd shared at the diner where the bill unaccountably vanished cost us just a buck and a quarter, and the gas to get there and back about the same. It nearly killed us that we'd have to retrace the distance to see if by some crazy random miracle the dub would show up in the crack in the vinyl banquette we'd sat in, or on the floor.
Fast-forward 40 years. What's 1,000 times $20? Do the math -- but be careful if you go one step further and check out what climate scientist Bill McKibben's been saying lately on his college tour of the same name.
McKibben is the Ross Perot of the weather wars. His most compelling calculation is a lot scarier to me personally than dropping 20K in a stock trade, which is what I just did when I took his advice and sold my holdings in Exxon Mobil. (The shares were purchased by my grandmother when the company was Standard Oil -- hence the capital-gains tax hit I'll take come April 15.)
"Fossil-fuel companies currently have 2,795 gigatons of carbon dioxide in their fuel reserves," McKibben says, "and their business model depends on that fuel being sold and burned. At current rates of consumption, the world will have blown through its 565-gigaton threshold in 16 years." That's when the heat wave will have "catastrophic consequences" for life on Earth.
McKibben wants to put a dent in oil-industry balance sheets and via that route the conscience of corporate America, such as it is. Corporations aren't people, but their CEOs are beholden to people. Shareholders like me. Until the other day.
Some of my friends consider my decision quixotic, to put it politely. They say I have more influence as a shareholder than not and that the shares I sell will be snapped up by someone else. They wonder: "What's your point?"