Thursday, June 15, 2017

‘Coal is dead’ and oil faces ‘peak demand,’ says world’s largest investment group

https://thinkprogress.org/coal-is-dead-692729aa910d
"BlackRock, the world’s largest investment group, with $5 trillion in assets — more than the world’s largest banks — has begun to bet on clean energy. Why? “The thing that has changed fundamentally the whole picture is that renewables have gotten so cheap,” said Barry. No, the world’s coal plants are not going to all down shut tomorrow, Barry noted to The Australian Financial Review (subscription required). “But anyone who’s looking to take beyond a 10-year view on coal is gambling very significantly.” President Donald Trump famously campaigned on restoring coal jobs, and has continued to reiterate that commitment as president, but the economic reality makes that a futile effort."

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