Divestment Won't Stop Fossil Fuels - Nor Should It by William McNally
Appeared in C2C Journal on January 8, 2022
Gina's Thoughts
William McNally's thorough and excellent article is perfect for our first Story of the Week of 2022. He talks about the pressure that the fossil fuel sector - oil, gas and coal - is under from all directions of the divestment movement. "From all the rage 'ethical' investing to 'woke' hedge fund managers extolling green energy companies, to world economic leaders stating that fossil fuel assets will become worthless to climate-obsessed politicians intoning their mantra of an 'energy transition' to an all-electric nirvana." Yet, "world crude oil and natural gas prices are zooming, there is a bull market in traditional energy stocks and credible forecasting agencies are predicting fossil fuels will remain key to global energy security until at least 2100." In true January fashion, McNally asks and answers the question, "What might this portend for the fossil fuel divestment movement?".