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SZO - Mark Carney's Wrong About Stranded Fossil Fuel Assets
DB Crude Oil Short ETN
Mark Carney of The BoE and stranded assets
Mark Carney, the outgoing Governor of the Bank of England, tells us that fossil fuel companies are going to suffer from a catastrophic collapse in value as a result of climate change. Or rather, what we're going to do about climate change. This is not in fact true, or at least not as true in the timescale being talked about, as he's saying it is.
Sure, obviously, if we all stop using fossil fuels then fossil fuel companies won't have any value. They'll suffer the fate of