This article makes the same point, Donald,
“The fact is oil markets are more likely to dry up before Aramco’s reserves of crude run out. Demand for oil remains robust despite the growing popularity of electric vehicles and the pressure of climate change forcing consumers to search for cleaner transportation fuels”.
Quoting from the Science daily article,
“The scientists conclude that further economic damage from a potential bubble burst could be avoided by decarbonising early. “Divestment is a prudential thing to do. We should be carefully looking at where we are investing our money.(1) For instance, much like companies, pension funds and other institutions currently invest in fossil-fuel assets. Following recommendations from central banks, commercial banks are increasingly looking at the financial risks of stranded fossil-fuel assets, even though their possible impacts have not yet been fully determined. Until now, observers mostly paid attention to the likely effectiveness of climate policies, but not to the ongoing and effectively irreversible technological transition. This level of ‘creative destruction’ appears inevitable now and must be carefully managed,” Mercure concludes.
Regarding a Surplus energy approach .
(1)ED. This is the key misunderstanding , the whole basis of this analysis should look at Net Energy Surplus over cost of energy extraction, then in a real sense the Sentance , “We should be carfully looking at where we are investing our Energy ( qua, Energy )”, would have money taking the Debt based monetary unit as a referent renders the statement meaningless a per pro energy capital allocation decisions.
My own view is that The Establishment in Britain by the most part does not want Brexit to happen if one reads Project Syndicate and Anatoly
Jul 27, 2016 ANATOLE KALETSKY
Instead of rushing Brexit, Europe’s leaders should be trying to avert it, by persuading British voters to change their minds. The aim should not be to negotiate the terms of departure, but to negotiate the terms on which most British voters would want to remain.
This from the European Council on Foreign relations
This in the Independent about Gordon Browns plan to save the union, remember “The Vow” in the scots indy referendum?
1. Starter for 10 Federated Pound Stirling
2. Bonus 1. English Assembly
3. Bonus.2 Save Union Scotland.
Bonus 3, Introduce PR = permanent hung Parly. I.e needn’t worry about Jeremy Corbyn Govt @jeremycorbyn
When I was proposing the Grand cross-party Idea after the 2017 GE this was my prediction of how this would all get resolved, I still think it will play out this way. I am still agnostic on in or out as it makes no difference as long as the Neo-Cons have Trump by the short and curlies, which they seem to have.
To wit, I must say I agree with
on January 16, 2019 at 11:46 am said:
“IMV Brexit is a sideshow. In the long run I think a no deal exit would make very little difference economically and it’s the long run that matters.
What does matter are the trends that Tim writes about which will continue to undermine economies of whatever stripe, including of course those of the EU itself and not just the UK.
There are growing signs of substantial change in the EU and I think this will gather momentum over the next few years and the supranational, neoliberal model will come under increasing question.”
Last word to ANATOLE KALETSKY Is Canceling Brexit Now Inevitable?
Dec 27, 2018
As matters stand today, a new British referendum on leaving the European Union would produce a clear majority for remaining a member, regardless of how the votes were counted or the questions were asked. And with the only two Brexit options set to be rejected next month, the questions are increasingly likely to be asked.
or perhaps H G Wells,
VII. — FEDERATION
THE NEW WORLD ORDER
There is one direction in which Mr Streit’s proposals are open to improvement. Let us turn to another in which he does not seem to have realised all the implications of his proposal. This great Union is to have a union money and a union customs-free economy. What follows upon that? More I think than he realises.
There is one aspect of money to which the majority of those that discuss it seem to be incurably blind. You cannot have a theory of money or any plan about money by itself in the air. Money is not a thing in itself; it is a working part of an economic system. Money varies in its nature with the laws and ideas of property in a community. As a community moves towards collectivism and communism, for example, money simplifies out. Money is a necessary in a communism as it is in any other system, but its function therein is at its simplest. Payment in kind to the worker gives him no freedom of choice among the goods the community produces. Money does. Money becomes the incentive that “works the worker” and nothing more. Ed. NB
The New World Order is a book written by H. G. Wells, originally published in January 1940. Wells
And If I may a stanza from my poem,
GLOBALISATION UN-ENTANGLED. (A FOUND POEM, CIPHER OF GLOBALISM )
Eliza with Rogerian inscrutability
hears the confession of the mal-contents
A mirror held up before cosmetic application
Globalisation and Internationalism confused
despotism´s nature is to abhor any say
save that of its own momentary pleasure;
it annihilates all intermediate situations
between boundless strength on its own part,
and total debility on the part of the people.
Our education can be Our? our, government.
Our reason can be our Judge, of the rivals;
Globalism, Authority, coercion and competition.
or Nationalism, Internationalism, Cooperation.
Are we to have free will and democracy
Will we have determined authority
A struggle of ideals an ancient quarrel
Parmenides or Heraclitus navigators both