#Energy Al Gore's latest foray into saving us all from ourselves is to point out that climate change means that we'll not be able to actually use a rather large portion of the fossil fuel reserves that we've already found. This poses a problem in investment terms as there are many companies that have those reserves on their books as financial assets. But, of course, if we're not going to be able to use those fuels because our budget for possible carbon emissions is used up then they're not really financial assets, are they?
http://www.forbes.com/sites/timworstall/2013/10/31/a-modest-proposal-to-deal-with-al-gores-unburnable-carbon-problem/ http://bit.ly/15KdByZ
Q: You'll have seen the report last month from the Intergovernmental Panel on Climate Change that included the idea of a global carbon budget and what it says is that if you want to hit a 2-degree target, more than half of the carbon budget is already exhausted. What are the ramifications of that?
http://www.forbes.com/sites/timworstall/2013/10/31/a-modest-proposal-to-deal-with-al-gores-unburnable-carbon-problem/ http://bit.ly/15KdByZ
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