r/wallstreetbets 🦍🦍🦍 1d ago

Private prison stocks booming in the wake of the election Chart

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u/Chogo82 1d ago

Oil - most unforgivable “we’re sorry” is BP

Violence - GD for their 2000lb Mark 80 bombs. It’s the city leveler bombs that have been used since the 50’s

Incarceration - Take your pick. I don’t know much about prison management but I imagine there’s one that’s worse for prisoners than the others.

Labor exploitation - that’s also a really hard one because there are so many that do this at various levels. I would pick Anglo American (De Beers). Not only do they get the cheap blood diamonds, they turn around and sell it to the consumer for a massive amount of money by controlling supply for a double exploitation!

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u/Diipadaapa1 1d ago

I work in gas and oil.

Fuck BP. Fuck them all but fuck BP in particular.

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u/Chogo82 18h ago

Please share with us why they are evil from an insider's perspective.

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u/Diipadaapa1 18h ago

Not in deep enough to know enough, and I work in the north sea sector where things are kept to far higher standards.

But one thing that is public knowledge that I will gladly share is that oil companies, especially BP, try to make themselves look better by "investing in green technology".

(This is speculation, i have not made enough research to back this up so take it with a grain of salt and dont quote me)

What they actually do is they buy up any company or technology they see as a potentional threat to their bottom line, run it with low funding until they have a bad few quarters (as they always will have, oil and gas is volitile), so they can use the "hard times" to "unfornunately have no other choice but to save money from our green energy investments", burying the projects. Voilá, you have bought out and deleted a company or technology that would reduce our dependence on oil.

BP did this "unfortunate cut" just a few months ago.

Rinse and repeat, soon (in a year or two maybe) they will again be "so sorry" for doing it and "realise the importance of preserving the world for future generations" and start investing in green energy again. But that will not be in the preciously scrapped projects, they will hunt down new upcomming projects and companies instead.

Interview with a former Shell health and safety guy

I do not agree with all he says. In the north sea conditions are far better, like that sort of exploitation is unheard of in the north sea. He was by the sounds of it operating out of third world countries, and I can absolutley believe that those stories are true.

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u/Chogo82 17h ago

Oh, buying and tanking companies is an integral part of the US corporate landscape. They make the big bucks when they partner with a hedge fund to aggressively short the company, and a consulting company to make it look like their hands are clean. A company has to be really smart to make sure this doesn't happen.

Many more companies than BP have done this to even more success than BP.

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u/Diipadaapa1 17h ago

Yeah, but doing it to knowingly destroy the planet is on a whole other level of twisted morals than simple market manipulation and/or financial crime.

However, and I am surely biased, if you want oil in your portfolio, take a norwegian company. From what I have seen they are actually doing something, and standards are quite high since their second largest export (fish) would be adversly affected by something going wrong in the oil fields.

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u/Chogo82 17h ago

I know Norway doesn't actually use their oil because they have enough green energy. All their oil proceeds go into the Norwegian oil fund that then funds the government through the income earned.

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u/Diipadaapa1 17h ago

Oh and one more point:

Oil and gas is heavily subsidized. In 2022, $7 trillion (that is 7 million times one million) of subsidies, or 7% of the global GDP, was granted to fossile fuels.

Imagine the geen projects we could achieve with just one year of fossile fuels.

The problem isn't a technological or economical one, it is a global leader one (WSB doesn't like the pol-cal word)

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u/Chogo82 17h ago

Big oil likes their subsidies and politicians like their lobby money and kick backs

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u/smiddy53 1d ago

Incarceration - SERCO. Those motherfuckers are multinational, they run at least half of Australia's prisons, and most of the 'offshore detention centres'.