Does Carbon bubble theory is coming true?
"Carbon bubble theory"
Coal mining companies in Australia have been enjoying the good life in recent years, making millions of dollars from feeding the seemingly insatiable energy appetites of Asia's tiger economies - particularly that of China. But a new report by the Smith School of Enterprise and the Environment (SSEE) at Oxford in the UK warns that Australia's coal mining party could be coming to an end.
It says coal demand in China looks likely to fall in the years ahead due to concerns about climate change and other factors, leaving billions of dollars of investments in Australian coal mining projects in jeopardy.
It also gives powerful confirmation to the 'carbon bubble' theory advanced by Carbon Tracker and 350.org - that most of the fossil fuel 'assets' supporting energy company valuations will prove to be unburnable and have no value.
Published date, Dec 24 2013