The finances of the oil and gas industry are so dismal that the major banks that have funded the money-losing fracking boom are now exploring taking the unusual step of taking over the oil companies that cannot afford to pay back the banks’ loans.
A future climate disaster, or “green swan” event, could bring down the global financial system, according to a new report from the Bank for International Settlements (BIS), an international financial organization that serves as a bank for central banks around the world.
The Paris climate conference is really an economic conference, perched on the brink of a market crash in the fossil fuel sector.
Energy is the bedrock of the global economy. Any disruptive changes in areas such as electricity generation will open the door to myriad new investment opportunities.