Fossil fuels the 'new sub-prime crisis'
The UK's conservative Daily Telegraph warns: investors in fossil fuels are 'throwing good money after bad', reports Nathan Wood, as renewable energy takes off leaving a potential $19 trillion of oil assets 'stranded'.
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#1 Jul 14, 2014
Such a case has already encouraged many firms to divest in fossil fuel companies entirely, as major Norwegian pension fund and life insurance firm Storebrand has done, labelling stocks in said companies as "worthless financially".
Ending by taking a swipe, at BPs current model after they regressed Lord Browne's re-branding of BP to 'Beyond Petroleum' as he sought to embrace solar:
"He may have his moment of sweet vindication after all."
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