"my take is that climate change has only become political because the right wingtippers don't want to lose coal or gas and renewable energy damages their investments."Scotty,
You've got that precisely 100% the wrong way round.
It is the manic lurch to so-called renewable energy which has greatly
enhancedthe investment case for coal and gas, not impaired it.
Because, as the economists among us know, when the demand curve for an economic good moves to the right, but the supply curve is unable to respond, then the equilibrium price is ratcheted upwards.
View attachment 4975708I'd been investing for over 3 decades and I'd never owned a coal nor an oil stock over all that time.
That is, until a little less than two years ago when I realised that the shutting down of global fossil fuel supply by the climate warriors - while global demand for fossil fuels is going to continue rising for many more years to come - was going to cause prices for fossil fuels to become elevated for many years.
So, to help you avoid coming across ill-informed yet again, the following posts - both entitled "Supply Side Shock in the Making" - will provide the necessary edification:
https://hotcopper.com.au/posts/53454533/single[May 2021 (New Hope Coal stock thread)]
https://hotcopper.com.au/posts/55091411/single[August 2021 (Woodside Petroleum thread)]
So thanks for playing your part in driving that fossil fuel supply curve to the left.
Given the spectacular increases in the valuations of coal and oil stocks, my family members and the causes we support have benefited greatly from it.
Keep up your valiant efforts.
.
