Tuesday, October 22, 2013

Somebody's wrong: Former politician Gore argues that fossil fuels will become valueless; superinvestor Charlie Munger says they will become "very high priced"

Al Gore: Divest Now From 'Sub-Prime' Coal And Oil Companies Before 'Carbon Bubble' Bursts | ThinkProgress
“There are $7 trillion worth carbon assets on the books of multinational energy companies…. The valuation of those companies and their assets is now based on the assumption that all of those carbon assets are going to be sold and burned. And they are not. The global scientific community has just reaffirmed that No more than one-third can ever possibly be burned without destroying the future.”
Charlie Munger On Energy Independence - Business Insider
[Munger] Oil and gas are absolutely certain to become incredibly short and very high priced


Sean said...

Al's on to something here. He turned $500 million dollars of oil wealth into Al Jazzera America. If it follows the same trajectory as Current TV, all that oil money will soon be worthless.

tmitsss said...

3. They could both be wrong