Cheap coal is a lie – stand up to the industry’s cynical fightback
It is becoming increasingly difficult to avoid the reality that the days of coal as a source of energy are numbered. In a world where carbon emissions will increasingly have to be constrained, coal, as the dirtiest of the fossil fuels, is the energy asset most vulnerable to becoming “stranded” – the most vulnerable, in other words, to seeing its market value collapse well ahead of its previously anticipated useful life.
This new economic and political reality is already being shaped by the fast-growing global support for the enforcement of a global “carbon budget”. This idea, first proposed six years ago and formally endorsed by the International Energy Agency in 2011, has been gaining traction because of the ever-stronger scientific consensus that carbon emissions from human activity is the principal driver of destructive climate change.… Seguir leyendo »