Change climate policy now to avert oil market crisis, warns thinktank
Governments risk derailing global fossil fuel demand with ‘handbrake turns’ in future
The oil industry is at risk of a global market shock that could halve the value of fossil fuel investments if governments delay setting policies to tackle the climate crisis, according to new analysis.
A report by Carbon Tracker, a financial thinktank, warned that a “handbrake turn” in climate policy could have a “forceful, abrupt, and disorderly” impact on the global oil industry by derailing fossil fuel demand.
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