BBC News – Richard Anderson
The world’s biggest oil and gas companies risk losing $2.2tn (£1.5tn) by overestimating future demand for fossil fuels, a report suggests.
By underestimating both legislation to cut the use of dirty fuels and the development of clean energy, these firms are investing in assets that may prove worthless, says Carbon Tracker.
Shell, Exxon Mobil and BP are among those most a risk, it says.
The report comes on the eve of the Paris climate change summit.
“If the industry misreads future demand by underestimating technology and policy advances, this can lead to an excess of supply and create stranded assets,” says the report by the green think tank.
Read the full article on the BBC website.
