Think of invading Russia in winter, of the Spanish Invincible Armada, of the US highway system, of the Pentagon budget, and of developing the Ford Edsel. Well, these were peanuts in comparison of what we are doing now
From "carbon tracker"
Unburnable carbon 2013: Wasted capital and stranded assets
This new research from Carbon Tracker and the Grantham Research Institute
on Climate Change and the Environment at LSE calls for regulators,
governments and investors to re-evaluate energy business models against
carbon budgets, to prevent $6trillion carbon bubble in the next decade. Unburnable carbon 2013: Wasted capital and stranded assets has revealed that fossil fuel reserves already far exceed the carbon budget to avoid global warming of 2°C, but in spite of this, spent $674billion last year to find and develop new potentially stranded assets.
read the whole post on carbon tracker...
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