FWD: Berman Shale Gas Interview Video

[Paul Nellen]

Jeremy Leggett (UK) shared this very informative e-mail with some ASPO guys in Europe and the US. 

Have a great & sunny sunday,
paul

----- Weitergeleitete Message -----
Von: Luca Pardi
An: Jeremy Leggett 
Gesendet: 7:54 Sonntag, 7.Juli 2013
Betreff: Re: Berman Shale Gas Interview Video

Many thanks to Arthur Berman for the interview (and to Jeremy for sharing it) it's going to be very useful.

L.P.

On 06/07/2013 22:33, Jeremy Leggett wrote:

Great interview Art. Truly you are a heroic whistleblower.

I append my latest column from Recharge, which includes an effort to echo your messages.

Also, some more encouragement, perhaps. Since the publication of "Carbon Tracker 2013: Wasted capital and stranded assets", the small Carbon Tracker team of analysts, which I chair, has been besieged with requests for private presentations in financial institutions and major resource corporations. Among the actions and comments stimulated, the HSBC Oil & Gas Analyst, Paul Spedding, has concluded: “The scale of ‘listed’ unburnable carbon revealed in this report is astonishing – between 60 and 80% of current fossil fuel reserves listed on global markets cannot be burned if we are to limit the rise in global temperature to 2 degrees. This report makes it clear that ‘business-as-usual’ is not a viable option for  the fossil fuel industry in the long term. Management should already be looking to new business models that reduce the risk of stranded assets destroying shareholder value, In future, capital allocation should emphasise shareholder returns rather than investing for growth.” Other reaction, and developments in the markets, are summarised here. Most recently,  last week, Storebrand pulled 19 coal and tar sands companies from its portfolios citing risk of stranded assets. Other investors are showing signs of agreeing. We expect to see more calls for retained earnings to be allocated not to capex but dividends as the narrative unfolds. As for regulatory implications, among the developments is a meeting with the Bank of England next week at which Carbon Tracker analysts and allies in the fund management industry will be seeking to persuade the Financial Policy Committee to require recognition of the carbon bubble risk  - that some companies are already recognising - in financial reporting across the capital markets.

Onward with courage 

BR

J

Jeremy Leggett

Founder and Chairman, Solarcentury and SolarAid

Chairman, Carbon Tracker

www.jeremyleggett.net 

The Energy of Nations: Risk Blindness and the Road to Renaissance

- publication 26 September 2013, launch 14 October at the World Energy Congress

Read reviews    Read synopsis and first chapter    Pre-orders

From: Arthur Berman
Date: Thursday, 20 June 2013 22:15
Subject: Berman Shale Gas Interview Video

http://www.youtube.com/watch?v=cDDseuvO2SM&feature=share&list=PL3yVl0q9sFIwgSJfLSBEA3pLrDsxMDMwe

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Luca Pardi
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