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To say that “Climate nonsense is dreamed up by profs” is to say that they’ve willingly committed career suicide for no reason. But soon these skeptics will fall silent. That’s because solar and wind energy – with storage and without subsidies – have finally become substantially cheaper, worldwide, than any fossil fuel.
Clean energy has won in the marketplace and fossil fuels are doomed. Major institutional investors are already fleeing fossil fuels.
Meanwhile, solar and wind prices will keep dropping exponentially until they’re essentially free by 2030 . Natural gas projects are now already more expensive than solar/wind 90% of the time and will lose money for investors with costs pushed onto consumers in the form of higher rates. That’s why $12 trillion was divested from fossil fuels last year alone with $32 trillion more in divestment pledged.
This January, BlackRock, the world’s biggest investment firm, with $7 trillion in assets, divested after losing $90 billion in Big Oil investments over the past decade.
CNBC’s stock guru, James Cramer, declared fossil fuels dead in January. Coal is going bankrupt. Fossil fuel mega-corporations will be stuck with trillions in stranded assets they’re deep in debt for but won’t be able to sell (CNBC.com).
Pete KuntzDenver
