EnergyWatch

New research: The world faces a crisis much worse than the 2008 financial crisis

A "fossil bubble" has been created by the enormous investments in fossil energy – and it can burst in the near future, say researchers from Cambridge University.

Photo: Martin Meissner/AP/Ritzau

The financial crisis from 2008 will seem like a tender kiss from an affectionate lover compared to the nightmare that awaits us.

"New research suggests that the momentum behind technological change in the global power and transportation sectors will lead to a dramatic decline in demand for fossil fuels in the near future," writes Jorge Viñuales, law professor and founder and Cambridge Centre for Environment, Energy and Natural Resource Governance (C-EENRG) at Cambridge University.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Siemens Gamesa's deep financial woes are halfway self-inflicted

Despite successfully forwarding the external costs to customers, onshore wind projects valued at EUR 2bn are being delivered at zero-profit margins in the years to come, according to the turbine maker’s CEO. Here and there, things might have moved a bit too fast.

Siemens Gamesa drags down majority shareholder

Despite better sales than expected in the gas business, Siemens Energy downgrades its full-year guidance in the wake of Siemens Gamesa’s announcement of potentially massive losses in 2022.

Further reading

Related articles

Latest News

See all jobs