MORE NEWS FROM THE FRONT LINES: A growing number of investors are worried that trillions of dollars of oil, gas & coal deposits could become stranded. - To hold temp increases to 2C, a majority of oil, gas & coal deposits would have to stay underground. Once that point is reached, they become stranded. - Storebrand ASA, which manages $74 billion of assets, announced last year that it would divest from 19 fossil fuels companies. That list has since expanded to 35. - Divestment pledges by 181 institutions & 656 individuals represent more than $50 billion of assets, said Arabella Advisers. - Analyst M Lewis says a 2-degree pathway would cost fossil fuel companies $28 trillion in revenues over the next two decades. - The oil companies “are in denial in the same way German utilities were,” L said. “Not only did they not see the renewables revolution coming, they dismissed it.” - “Before long there will be widespread recognition that most of these assets are never going to be burned,” said Al Gore. Lets hope its sooner than later. says I.
Posted on: Fri, 05 Dec 2014 04:11:20 +0000
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