Both the clean energy revolution and global warming are capable of accelerating. This is essentially the tale of a race against time.
Articles by Jeremy Leggett
The great global race against time has very much begun now. The US and China ratify Paris deal, capital flow shift, China cancels nuclear plant and even conservative press hails transition to sun, wind and water within a generation.
Imagine being responsible for the balance sheet of the company driving the nuclear fiasco slowing deployment of green energy in the UK..
“State of transition” Oil oversupply, shale bankruptcies, gas leaks, and a whiff of securities fraud
The great global energy transition will play out in countless small dramas. But reminders of the over-arching global narrative, that we are in a race against time, are remorseless.
The vehemence of the incumbency’s rearguard action is so daunting that one wonders if Big Energy can delay the solar revolution for years, or even derail it.
Humans are capable of mass collective blindness to risk. Having courted economic Armageddon in the financial sector, might we repeat the trick in energy?
Investors continue to pile into carbon fuels because we allow companies to account coal, oil and gas as assets at zero risk of impairment.