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Posted Sat Apr 20 2013: from Bloomberg:
Carbon-Intensive Investors Risk $6 Trillion 'Bubble,' Study Says
The top 200 oil, gas and mining companies spent $674 billion last year finding and developing fossil fuel resources, according to research by the Carbon Tracker Initiative and a climate-change research unit at the London School of Economics. If this rate continues for the next decade some $6 trillion risks being wasted on "unburnable" or stranded assets, according to the report, released today.... Bonds of fossil fuel companies could be vulnerable to ratings downgrades, pushing up their financing costs while equity valuations could plummet as much as 60 percent if industries become less carbon-intensive, the study showed, citing HSBC Holdings Plc analysis. The analysis shows that 60 to 80 percent of coal, oil and gas reserves of the 200 public companies studied could be unburnable if the world is to curb emissions to limit global warming to 2 degrees Celsius, a United Nations target.
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'Doc Michael says:
Massive bubble, toil and trouble, BAU, and down we double.

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