November 6, 2021
WHY THE rIGHT IS TRYING TO PROP UP CARBONS:
Russia Faces $2T in Stranded Hydrocarbon Assets in Net Zero World (Jake Cordell, Nov. 5, 2021, Moscow Times)
"The low-carbon transition could lead to a period of global financial and political instability due to the combination of deep structural change, widespread financial loss and reorganization in financial and market power worldwide," a group of researchers from British universities said in a landmark paper, published Thursday in the journal Nature.Their calculations show more than half of Russia's estimated $3.9 trillion stock of fossil fuel assets -- such as oil and gas rigs, pipelines, extraction facilities and other infrastructure to support the country's vital energy sector -- would become "stranded," or effectively worth nothing, by 2036.
Renewables threaten the authoritarian regimes they love.
Posted by Orrin Judd at November 6, 2021 8:53 PM
