Originally shared by David Brin

Originally shared by David Brin

Are you kidding me? This comes as a surprise? “The Bank of England has joined the growing ranks of those warning of the financial risk posed by a "carbon bubble," which will occur if urgently needed climate change regulations (and efficiency improvements) render coal, oil, and gas assets worthless.” This is, of course 100% the reason why the coal barons and petro-sheiks have funded the Denialist Cult, which strenuously blocks even moderate-compromise efforts at energy efficiency.  Why else would the Fox-line be “absolutely no science and no compromise, ever!”

"As the world increasingly limits carbon emissions, and moves to alternative energy sources, investments in fossil fuels and related technologies—a growing financial market in recent decades—may take a huge hit."  Moreover: “Leaving aside the ethics of divestment and pursuing a purely rational economic analysis, the cold hard numbers of putting money into fossil fuels don't look good."

http://www.commondreams.org/news/2015/03/03/bank-england-issues-warning-over-looming-carbon-bubble-threat
http://www.commondreams.org/news/2015/03/03/bank-england-issues-warning-over-looming-carbon-bubble-threat