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

@Quimliqer Fossil fuels were on their way out before the pandemic hit. Their demise is now accelerating, if only because people will be using their cars far less often on average now.

@SW-User Love to see you climb on an electric airplane and fly to Europe!!

@Quimliqer You're both right. I've been paying attention to oil for a while now as I've been holding Chesapeake stocks for quite a long time now. Before COVID hit, Russia and another country were having an oil price war which was pushing out the rest of the worlds oil values and bulk crude oil was actually worth less than nothing for a short while. Then once COVID hit, I lost like 30% of my portfolio which I was hoping was going to recover after that whole price war and jumped ship before Chesapeake went under.

@Quimliqer I'll take the boat. That's what I do to get to the UK :)

@TeirdalinFirefall And sadly this may be the death knell for more of them. They have operated for so long on the assumption they're immune to global changes; just didn't see this one coming..

@SW-User Does that boat run on batteries?
You are correct in wanting a cleaner world, i believe in the same. Unless you have been involved in the industry as long as i have, maybe you've missed the advances made by the majors in cleaning up the byproducts of the industry. If your hell bent on saving your world, go to China, India, Saudi Arabia, Russia and get them to cut back on their emissions; now your making headway...

@Quimliqer With the possible exception of Russia, they are doing just that to greater or lesser extents. China has an inhumane, fucked up government, but they get climate change. That is the one good thing about them. Even Saudi Arabia is considering large-scale solar. I'm also grateful for the advances, believe me. Things could have been SO much worse.

@SW-User China is bringing 500 ew coal fired power plants online in the next two years!! Do you think the environment ever crosses their mind?
Considering is not doing. Wake up!!

@Quimliqer Yeah, China loves their coal.
Personally I'd love coal too, if it wasn't for the whole ruining the ozone and polluting the nearby area when burned in large amounts aspect of it.

@TeirdalinFirefall Are you familiar with new coal plant technology?

@Quimliqer Not in the slightest. But now that you mention it, I assume they must have some sort of new filters out by now for it; I can't imagine a country not investing in that with todays tech and social climate, especially since it should be a relatively simple task of collecting and condensing the emissions that are released from burning it.

@TeirdalinFirefall The technology is amazing!! With that being said, the coal plants here have now moved to natural gas as the primary heat source in the boilers.

@Quimliqer We’ll see how many of those plants actually get built. Regardless, China is the biggest investor in renewable energy sources By Far in the world. Yes, I think the environment crosses their mind frequently because they really do not want a restless population.

@SW-User They May invest in renewable energy, but the population outgrows the ability for solar or wind. As for the population, they don’t care as the threat is greater than the voice.