Calls for the end of all investments in new oil and gas production, protests demanding the immediate suspension of oil production, and denunciatory reports from environmental NGOs slamming banks for still financing fossil fuels have become fixtures of today’s life in the West. But fossil fuels are going nowhere, at least in the observable future.
“The idea that we can turn off the taps and end fossil fuels tomorrow, it’s obviously ridiculous and naive,” the chief executive of Standard Chartered, Bill Winters, told CNBC in…Fossil Fuels Aren’t Going Away Anytime Soon
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