A lot of things are better when tapped at the source. Spring water. Maple syrup. Apple advice from the Genius Bar. So when the chief economist at the International Energy Agency warns that you might be making a bad energy investment, it’s worth listening up.
Speaking in Paris today at the largest climate conference before December’s flagship U.N. climate negotiations, Fatih Birol, also the agency’s incoming executive director, dealt some strong words to energy companies and groups invested in fossil fuels. In a nutshell: As climate policies change, fossil fuel investments are likely to tank.
“Any energy company in the world, whatever they do – oil, gas, renewables, efficiency, coal – climate policies will impact their business,” said Birol. “So in order not to make the wrong investment decisions, in terms of making the investment decisions which may not bring the right returns, or in terms of…
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