Nuvista Energy Ltd T.NVA

Longer Term "Stranded Assets" / musical chairs

[Indicator]

Food for thought lest anyone take seeming perpetual rising commodity prices for granted:

"Individuals in rich countries face huge financial losses if climate action slashes the value of fossil fuel assets, a study shows, despite many oil and gas fields being in other countries.

The researchers estimated that existing oil and gas projects worth $1.4tn (£1.1tn) would lose their value if the world moved decisively to cut carbon emissions and limit global heating to 2C. By tracking many thousands of projects through 1.8m companies to their ultimate owners, the team found most of the losses would be borne by individual people through their pensions, investment funds and share holdings.

The analysis also found that financial institutions have $681bn of these potentially worthless assets on their balance sheets, more than the estimated $250-500bn of mispriced sub-prime housing assets that triggered the 2007-08 financial crisis.

The researchers did not predict if or when these fossil fuel “stranded assets” would cause a financial crash, but said the size of the number was worrying."

https://www.theguardian.com/environment/2022/may/26/people-in-us-and-uk-face-huge-financial-hit-if-fossil-fuels-lose-value-study-shows

[Oldnagger]

THis is a typical article from theguardian.com . Their agenda is to bring down the price of OIL and Gas stocks with this now very common scare tactic. This has absolutely nothing to do about climate change. If it did , they would be publishing articles about the latest progress in sustainable non petroleum developments. The reason they do not report is because there is precious little to report

[Sugaree]

I was about to write similar, but you took the words right out of my mouth. A bunch of left wing drivel, and i bet deep down they know their climate change plan ain't working so good. Desperation is showing.

[Oldnagger]

Another old idea that absolutely no one cares about is to stop building commercial establishments with huge expanses of glass , The banks ,( hypocrites  extraordinaires ) are the  worst of the worst . Try running that one by the Davosionaires !!