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Posted Tue Jul 30 2013: from Grantham Research Institute/Carbon Tracker:
Investing in vapor: financial risks of stranded fossil fuel investments (PDF)
... The modelling used in previous analyses by Carbon Tracker and the IEA showed that the carbon budget for a 2 degree C scenario would be around 565 - 886 billion tonnes (Gt) of carbon dioxide (CO2) to 2050.... This budget, however, is only a fraction of the carbon embedded in the world's indicated fossil fuel reserves, which amount to 2,860Gt CO2. A precautionary approach means only 20 percent of total fossil fuel reserves can be burnt to 2050. As a result the global economy already faces the prospect of assets becoming stranded, with the problem only likely to get worse if current investment trends continue - in effect, a carbon bubble.
[Read more stories about: economic myopia, bad policy, oil issues, tipping point, carbon emissions, capitalist greed]
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'Doc Michael says:
I'm banking on the bubble keeping the balloon afloat!
At least until I can put all my money into tobacco and private militia.

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