As odd as it might seem, oil prices at $60 are not making it any easier for Big Oil and the likes. The Financial Times published two articles on how coal, oil and gas are through tought times. Let us review them here.
Here 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…
As the NRDC noted : ” The Natural Resources Defense Council, BlackRock and FTSE Group, the global index provider, partnered today in launching the first equity global index series that will exclude companies linked to carbon-based fossil fuel. “ ” The new investment tool will allow climate-conscious investors, including foundations, universities and certain pension groups, to match … Read more