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Fossil fuels the 'new sub-prime crisis'

2014-07-14 19:26:00| Climate Ark Climate Change & Global Warming Newsfeed

Ecologist: Staggering gains in solar power - and soon battery storage as well - threatens to undercut the oil industry with lightning speed ... Writing in the conservative UK newspaper the Daily Telegraph, influential columnist Ambrose Evans-Pritchard writes that the "fossil industry is the subprime danger of this cycle". Oil and gas investment has soared and production has peaked but has yielded very little financial return: "The cumulative blitz on exploration and production over the past six years...

Tags: crisis fossil fuels subprime

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