Amusingly, one pundit described the bankruptcy filing of the coal giant Peabody Energy as educational for the petroleum industry as to the effect of climate change on their business, saying, “it acts as a warning to oil and gas companies – and their investors – about how quickly things can change.”
Luke Sussams, of the Carbon Tracker Initiative, said, “The Chapter 11 filing highlighted the risks of fossil fuel assets becoming stranded because of tightening environmental regulations and the availability of cost-competitive renewable energy alternatives.”
