Having been hanging round the energy and climate debate for a long time now, it's not often I am taken aback by the Green Blob. But this article by Carbon Tracker's Anthony Hobley really made me gasp. The whole thing is amazing, but this in particular took the biscuit.
Investors are paying dearly for the inactions of the energy incumbents who have seemingly ignored and laughed off the impact of renewables. In the last five years 26 coal companies have gone bankrupt and US coal equities are down over 76%[1].
The suggestion that the pain being felt by coal companies is caused by anything other than the shale gas revolution and the surge in production from OPEC is astonishing. Non-hydro renewables are just 7% of US energy generation. Their impact is therefore nugatory, and there is simply no way Hobley cannot know it.
Shameless, shameless, shameless.
Bishop Hill