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posted by janrinok on Wednesday July 15 2015, @01:09PM   Printer-friendly
from the how-to-make-or-lose-a-fortune dept.

The world's fossil fuel companies risk wasting billions of dollars of investment by not taking global action to fight climate change seriously, according to the chief economist of the International Energy Agency (IEA).

Fatih Birol, who will take the top job at the IEA in September and is one of the world's most influential voices on energy, warned that companies making this mistake would also miss out on investment opportunities in clean energy.
...
The World Bank and Bank of England have already warned of the serious risk climate action poses to trillions of dollars of fossil fuel investments and the G20 is investigating the risks. The think-tank Carbon Tracker has estimated that over $1tn (£0.6tn) of oil investments and $280bn of gas investments would be left uneconomic if the world's governments succeed in their pledge to limitglobal warming to 2C.

The warnings are based on policy proposals that are entirely creatures of human decisions rather than hard economic realities. Then again, all demand is ultimately the product of human decisions.


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  • (Score: 2) by ikanreed on Wednesday July 15 2015, @07:09PM

    by ikanreed (3164) Subscriber Badge on Wednesday July 15 2015, @07:09PM (#209520) Journal

    You know that intellectual condecision only really works when you're not arguing an incredibly anti-intellectual factually incorrect position, right? "You're so dumb, I bet you believe in algebra" is the level you're operating here. Just a PSA.

    And... thanks for not even remotely following the conversation you participated in.

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  • (Score: 2) by curunir_wolf on Thursday July 16 2015, @12:58AM

    by curunir_wolf (4772) on Thursday July 16 2015, @12:58AM (#209716)

    Thanks for demonstrating my point - and all the other disciples moderating here on SN. My point is that it's useless to discuss it, because if you try to question anything, you just get shouted down. And that's the only reaction from anyone, name-calling and shouting down. Algebra is not a belief system, it's a tool. Science is not a religion, it's a methodology / process. There is no "science" left in AGW / Catastrophic Climate Disruption anymore. There is nothing about it that can be questioned. You all have proven that point.

    Here's your chosen spokesman, "Bill Nye: People are the problem" [youtube.com]

    --
    I am a crackpot
    • (Score: 0) by Anonymous Coward on Thursday July 16 2015, @04:31AM

      by Anonymous Coward on Thursday July 16 2015, @04:31AM (#209804)

      You can question it all you want; you have freedom of speech. But that doesn't mean that you won't receive criticism, or that you'll hear the answers you want to hear.

  • (Score: 0) by Anonymous Coward on Thursday July 16 2015, @03:03AM

    by Anonymous Coward on Thursday July 16 2015, @03:03AM (#209771)

    Yeah, dont hope for too much sense from this dude, you're arguing with a mystic, see...

    https://soylentnews.org/comments.pl?sid=7872&cid=195032 [soylentnews.org]

    • (Score: 2, Funny) by ikanreed on Thursday July 16 2015, @12:56PM

      by ikanreed (3164) Subscriber Badge on Thursday July 16 2015, @12:56PM (#209896) Journal

      I'm arguing with a goddamn moron who thinks he's smart. It's the worst.