1 We have far more oil, coal and gas than we can safely burn.
2 To prevent global warming we have to leave it in the ground!
3 So facts:
* Every science academy world wide accepts the view of man made global warming.
* Governments have all agreed we must limit the rise to 2C
* Warming goes up as carbon emissions go up
4 If we just burn the "proven" reserves we would emit 3 trillion tonnes of CO2, this will shoot us passed 2C rise.
5 So why spend trillions trying to find more? The capital assets of the companies that have existing extraction rights are not safe.
6 This is an old problem, the growth in carbon emissions is about 2% a year, and has been like this since the 1850s.
7 All the green policies have not stopped the growth. Government continue to undermine attempts to reverse the growth by ripping as much oil, coal and gas from the ground as possible. Even subsidising its extraction.
8 Governments are in denial about what needs to happen in the fossil fuel sector of the economy. Pension managers and investors support fossil fuel companies to invest $1 trillion/year to find new reserves.
9 But in reality these investments are worthless, oil is going to be the next great financial bubble as too much of it will destroy the very civilisation it today supports. Oil investments will become as toxic as sub-prime mortgages.
10 We need some hard politics very soon, that means before 2020, if we are going to get onto a road for recovery. If not DOOM.
Buy a book about this from guardian.co.uk/bookshop.
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