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American Prestige

Bonus - Green Energy and Fossil Capital w/ Thea Riofrancos (Preview)

American Prestige

Daniel Bessner & Derek Davison

History, News, Politics

4.81.2K Ratings

🗓️ 18 January 2026

⏱️ 11 minutes

🧾️ Download transcript

Summary

Subscribe now for the full episode. Danny and Derek speak with political scientist Thea Riofrancos about extraction, climate politics, and the limits of the green energy transition. They discuss why the advent of renewable energy does not mean a decline in fossil fuel use; how capitalism can generate new green industries while being unable to destroy fossil fuel infrastructure; mining, financialization, and intentional value destruction; political risks posed by dismantling fossil capital; and consumption, organizing under conditions of deindustrialization, and the challenges of building climate politics in the current political climate. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You're listening to American Prestige.

0:03.2

To listen ad-free, you can subscribe at AmericanPestigepod.com.

0:08.3

Find the link in our show notes.

0:11.7

But, and this apply, what I'm about to say applies to the Chinese version of this and to the

0:16.1

Western, you know, whatever it is to the whole world, what is much more difficult is to destroy value, to destroy

0:24.1

property. Like, you can open up new arenas of consumption of competition of production. Green stuff,

0:30.8

let's buy that and make that. What's harder is to destroy the actual polluting infrastructure.

0:36.2

And as per your point about conglomerates and finance,

0:39.2

the fact that our financial system is heavily invested in fossil capitalism means that it might

0:45.3

presage like a financial crisis if we destroyed all that value. And it would actually be intentional.

0:51.2

It wouldn't be like a bubble bursting like we're talking about with AI or past real estate crises. It would be like government driven intentional destruction of value.

1:00.0

And if you want to feel depressed, I would actually suggest reading overshoot. My book is less

1:04.2

depressing than that book, which really gets into like what it would take to destroy the value

1:09.3

of the fossil fuel industry, which is necessary to

1:11.2

prevent further investment in it.

1:13.3

I mean, this really speaks to where we're at, right? The argument from fossil fuel companies

1:19.8

who don't want to just say, let's keep rolling coal forever, which is what they really want to do,

1:25.9

but they can't say that now because it's not,

1:28.1

that's not what the public is geared up to here.

1:31.1

But the argument is we have to keep burning oil and gas,

1:34.4

because if we don't do that, then as you say,

1:37.2

the economy that we've built around these things will collapse

...

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