by Guest Contributor Joe Romm
Bloomberg New Energy Finance has a must-read piece for investors on how the smart money is beginning to notice the quicksand on which fossil fuel stock prices are built.
We reported back in April that BNEF said 70 percent of new power generation capacity added between 2012 and 2030 will be from renewable technologies (including large hydro).
Indeed, BNEF founder Michael Liebreich posed a good news, bad news story back then:
“By 2030, the growth in fossil fuel use will almost have stopped,” Liebreich told renewable-energy investors…. “We’re told that it needs to happen by 2020” in order to prevent irreversible climate damage. “That won’t happen. But by 2030, it pretty much will.”
Yes, homo “sapiens” will miss by just 10 years or so the window to avert catastrophic climate change — resulting in possibly hundreds of years
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