Stranded Assets

You might wonder why people like the Koch brothers are willing to stoop so low to block efforts to contain global warming and the switch to clean energy. The problem is stranded assets. Many people invested in fossil fuel mining and transport and fossil-fuel electric power generation under the assumption the assets would be generating revenue for at least another 60 years. The catch is clean energy is free, once you install the equipment. Further, the cost of the equipment is plummeting. In other words, all the fossil fuel infrastructure is becoming obsolete much sooner than the expected 60 years. However, the mortgages on that equipment still have to be paid. The sunset fossil fuel industry will soon go bankrupt. The Koch brothers and friends are trying desperately to stave off that day long enough to divest. China and Germany are going full bore converting to clean energy. The Koch brothers are ensuring the USA and Canada will eat their dust.

~ Roedy (1948-02-04 age:70)