The problem from their point of view is that rapid decarbonization requires public, collective decisions about the organization of production, in a way that threaten capital-owners' authority over both the production process and the political system.

I made a first stab at this argument here: eu.boell.org/en/climate-p...

To put it another way, *capital* is perfectly capable of organizing decarbonization. The problem is *capital-owners*, who are political actors and not just the embodiments of the accumulation process. Elon Musk is symptomatic here.

Capital as capital simply pursues profit in the cycle of endless accumulation. But *capitalists* need to balance the pursuit of profit with preserving the stability of the social system within which capital exists, on the one hand, and their own privileged position within that system, on the other.

That is why capital never governs directly, but requires a separation of the state and civil society, with some other form(s) of social relations organizing the former. "The ruling class does not rule."

These are the Democrats who voted with their Republican friends to double healthcare costs for millions of Americans. They're all millionaires.