That's why fossil fuels are so nice. In limited places, protect them with armed forces. I win, you lose.
Wait till the same thing happens with food. Oh, what fun. In the end, might makes right. Nothing has changed since the caveman.
If your horizon is longer than a decade, then given that fossil fuels are not renewable or sustainable, if you want to secure your wealth, you would be well advised to swing your political clout to get feed-in tariffs and then sink some of the "assured return" part of your portfolio into wind power. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
"... if you want to secure your wealth, you would be well advised to swing your political clout to get feed-in tariffs and then sink some of the "assured return" part of your portfolio into wind power." Earth, water, wind, and fire Energy is my desire... Engage!
Sure they will get windfall gains on the slide down, as the price of oil repeatedly spikes to ever higher levels, but there will be very little new work to do to make that money. They can drill more and more exploratory wells to find oil in places that will be very expensive to exploit to gain relatively little oil, but they already have oil fields that they are ready to bring on line once they are confident that crude oil is going to be above $80/barrel to stay. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
Several of them (but not Exxon) seem to want to invest in solar. In the long run, we're all dead. John Maynard Keynes
