Outing the Oligarchy - International Forum on Globalization

Occupy and <strong>Oligarchy</strong>
—INDIVIDUALS OF UNDUE INFLUENCE —
Critical discussion of <strong>the</strong> influence of <strong>the</strong> fossil fuels oligarchs has long been missing from <strong>the</strong> debate, despite
<strong>the</strong> decisive role <strong>the</strong>se individuals and <strong>the</strong>ir companies have played in both creating <strong>the</strong> crisis and blocking
solutions that could usher in an economic recovery—one based on clean energy security, with green jobs for
hi-tech design engineers, rust-belt workers and inner-city communities of color.
Despite <strong>the</strong> urgent need for new commitments to reduce greenhouse gas emissions, <strong>the</strong>re is little promise for
meaningful progress until we address today’s extreme concentrations of wealth and power that have
corrupted any prospect of democratic decision-making. Climate negotiators know that <strong>the</strong>y are not calling <strong>the</strong>
shots; ra<strong>the</strong>r, <strong>the</strong>y are all restrained by political pressure from <strong>the</strong> very people who profit most from polluting
our planet.
It is our hope that this report results in increased scrutiny of <strong>the</strong>se wealthy individuals—with attention
focused on <strong>the</strong>ir massive investments in fossil fuel assets and, especially in <strong>the</strong> case of <strong>the</strong> United States, <strong>the</strong>ir
financing of political activities that undermine democracy in <strong>the</strong> pursuit of short-term profits. In a desperate
attempt to wring out <strong>the</strong> last dregs of fossil-fuel profit from a depleted planet, <strong>the</strong> oligarchs of gas, coal and
oil are pushing <strong>the</strong> limits by resorting to increasingly costly, dirty and risky forms of exploitation—from tar
sands and "fracking" to mountaintop removal and deep-sea drilling. Cooperative global action to address <strong>the</strong>
most daunting challenge humanity has ever faced is being held hostage by a handful of profiteers who wield
decisive power over our governments.
Why are billionaires spending <strong>the</strong>ir wealth to block <strong>the</strong> phasing out of fossil fuels?? Because <strong>the</strong>y have billions
of accumulated assets and future profits at risk; spending a few hundred million to obfuscate science and
obstruct policy change is a cheap investment compared to what <strong>the</strong>y could lose if climate action advances.
“<strong>Oligarchy</strong>,” is a term rarely heard in political debates in democracies, has recently become useful in
explaining <strong>the</strong> power dynamics that drive current decision-making. While we often think of oligarchs as
corrupt kings from a bygone age, it is now an accurate and appropriate term to describe today’s political
reality of “rule by <strong>the</strong> rich.” According to Dr. Jeffrey Winters, author of <strong>the</strong> 2011 book, <strong>Oligarchy</strong>, wealth in
<strong>the</strong> U.S. today remains "two times as concentrated as imperial Rome, which was a slave-and-farmer society.
That's how huge <strong>the</strong> gap is." In addition, <strong>the</strong>re have been no real income gains for <strong>the</strong> average American
household since 1970. 1
“<strong>Outing</strong> <strong>the</strong> <strong>Oligarchy</strong>” is <strong>the</strong> first in a series of planned reports, online communications tools, public
education events and strategy sessions that comprise IFG's new Wealth and Power Program, which is
designed to call public attention to <strong>the</strong> Ultra-High Net-Worth Individuals who dominate today’s economic
system and profit from its unacceptable exploitation of people and <strong>the</strong> planet.
Why Now
IFG initiated this report after spending three years engaged in intensive efforts with grassroots groups and
like-minded governments worldwide to shape a progressive U.S. approach to <strong>the</strong> UN Climate Convention—
one that guarantees <strong>the</strong> concerns of poor countries and communities are incorporated into <strong>the</strong> outcome of
any global climate deal.
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