Friday, October 28, 2016

Exxon Finally Admits Global Warming Is Stranding Its Assets

Exxon Mobil is finally admitting to investors that billions of barrels of oil may be stranded assets - too expensive & too destructive to our climate to ever drill out & sell. That's after decades of deceiving the public on global warming. For the 3rd quarter of 2016, profits fell 38%.

"Oil companies are admitting the future isn't oil," tweets the Wall Street Journal's Christopher Mims. "Think of all the nations, not just stocks, this puts into terminal decline." 

And states - what about the budgets of Alaska, North Dakota, Louisiana, Texas and other places that are so heavily dependent on oil revenue?

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