The $20 Trillion Carbon Bubble: Interview With John Fullerton, Part OneQuicklink submitted by Amanda Lang Permalink
Become a Fan
|John Fullerton, the founder and president of the Capital Institute, sees the global economy heading for a crash that would dwarf the subprime crisis and the Great Depression. He also envisions a future where the economy is based not on consumption and competition for resources but on personal well-being. An essential finding that drives his work is what he calls the 'stranded asset problem.' Fullerton explains the extraordinary challenge of the $20 trillion carbon bubble. Randy Wray has described the current state of the commodities market as the biggest speculative bubble of all time, but the carbon bubble is even greater. In order to avoid catastrophic global warming, the Carbon Tracker Initiative found, we need to keep 80 percent of known carbon reserves buried in the ground.By Fullerton's estimates, this unburnable carbon is valued at $20 trillion...|
The time limit for entering new comments on this Quicklink has expired.
This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.