Fossil fuels are the next subprime danger


fossil fuels subprimeHere is further proof it’s high time to divest to avoid the carbon bubble. The Daily Telegraph published this week a most interesting article on how fossil fuels – oil, coal and natural gas – are the next subprime danger of this cycle as

 The cumulative blitz on energy exploration and production over the past six years has been $5.4 trillion, yet little has come of it. ” There are may reasons for such pessimism on these investment. the author notes among them a few :

Expensive exploration and production with little return ; potential limits to CO2 levels to 450 particles per million ; the increased competitiveness of renewables such as solar and wind…

Well, you understood it :

It’s time you divest from these dirty energy sources too. If you are not convinced, I urge you to read the full article. And if you have time, read Grist’s take on this article too.

It sure is long but I am willing to bet you’d rather read a long article than lose a few thousands dollars or euros. (or a few million Colombian pesos)

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