Gallery: Forget the Housing Bubble – the Next Crisis May Be the Carbon ...

 

Bubbles are bad – how can we forget the internet bubble of the 90s or the recent subprime mortgage crisis? Now it seems that we have gotten ourselves into a new bubble – and the consequences of ignoring it could be disastrous for the planet. A recent report by the Carbon Tracker Initiative shows that companies invested 674 billion dollars last year in developing nonrenewable energy assets globally. Add that to the fact that fossil fuel reserves already exceed the carbon budget and you get an unsupportable surplus – aka a “bubble.”

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