A Burning Closing Thought
Last year the International Energy Agency cautioned that a third of the world’s fossil fuel reserves must be put off limits until 2050 if humanity is to stand a chance of avoiding catastrophic climate change.
In this context it is worth noting that a recent report claimed if governments ever issued an edict to curb the use of fossil fuels because of climate change it could put $6 trillion in fossil fuel reserves in jeopardy.
In this scenario it has been estimated that a number of oil behemoths could lose up to 50% of their market value and trillions of dollars in revenues. Investors are rightly concerned about the risks associated with multinational oil, coal and gas companies that could be left with trillions of dollars of stranded assets if carbon taxes and other emission limits reduce the demand for fossil fuels. Why, then, would they invest in climate catastrophe?
In a fossil fuel world whose unmitigated freedom to operate as usual is curtailed by the threat of climate devastation, a carbon dioxide economy based on artificial photosynthesis can come to the rescue not only to the benefit of all those who believe and invest in the initiative, but also to sustain the health and well-being of humankind.