[EN] Climate change affects hydrocarbons business

[Facebook post published on GEAI page – 14 July, 2016] (Article en français ici)

According to Barclays Plc, the fossil fuel industry could lose €30 trillion in revenue over the next 25 years as global warming drives companies to leave oil, natural gas and coal in the ground and drive Government commitments to cut carbon emissions.
The industry continues to resist future coercive measures. The financial world is aware of future decrease in fossil fuel industry profits, the director of the largest U.S. public pension fund said, “a child with an abacus” could understand that.

Read the article« Fossil Fuel Industry Risks Losing $33 Trillion to Climate Change », Joe Ryan, Bloomberg.com, 11th July, 2016.