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Fossil fuels will result in losses at each step: coal to oil to gas

Forget climate change, investing in coal no longer makes financial sense either, with a recent study by Carbon Tracker exposing that governments are set to waste over $600 billion through their fossil fuel addiction. This whopping figure is likely to be conservative. As renewables undercut existing coal capacity market-by-market, they also edge closer to natural gas, where another swathe of losses will occur through the energy transition. The report entitled “How to waste over half a trillion dollars,” urges governments and investors to straight-up cancel coal power projects or face a surge of wasted capital costs through the energy transition. The study has tracked 95% of operating or pipeline capacity for coal-fired generation and focuses on the two inflection points…

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