Seven top oil firms downgrade their assets by nearly $90 billion in 9 months

Good! This shows that even the oil companies are taking climate and the shift to renewable energy seriously. I now hope that every one of their workers will eventually be retrained in renewable energy industries🌎️

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Subsumedpat · 36-40, M

It is something that is going to happen anyway one day. After hitting peak oil the math won't work. As the world gets more industrialized daily and the supply becomes shorter daily it will happen. The only questions are when that is and is it because of supply and demand or government regulations, in either case one or the other will happen and we will switch over.

SW-User

@Subsumedpat It's already happening, and I couldn't be happier. I just hope that everyone employed in the coal, oil or gas industries is retrained.

Subsumedpat · 36-40, M

@SW-User It is only small scale not really happening to the extent it will, when it happens it will be so much faster because it will make financial sense then in that it will be cheaper. Right now it is beneficial but not cheap.

SW-User

@Subsumedpat It's already making financial sense. Solar and offshore wind is already cheaper than fossil fuels. It's just that governments that have clear vested interests in keeping fossil fuel companies afloat are dragging their feet. They will, however, bow to the inevitable because change is happening far faster than even the most progressive estimates predicted.

Subsumedpat · 36-40, M

@SW-User Right now I spend about 1,200 a year on electricity, it will cost me around 20,000 to go solar with a lifespan of around 30 years which works out to about 600-700 a year depending on how long they last so you are right it is cheaper. But 20K is still a lot of money.

SW-User

@Subsumedpat I know. It's still a lot of money to install them privately.