If the Saudis do go through with their stated intention of driving the price of oil to $20 until renewables kill demand, the most recent American election and the billion dollars spent by the fossil fuel industry to buy it are made into a farce!
This means that all of the oil and gas holdings (and to a degree coal) owned by people like the Koch (pronounced "cock") brothers have just become stranded assets. It is probable that some billionaires who were invested heavily in fossil fuels and fossil fuel infrastructure are heading for ruin or near-ruin.
This also will hit the economies of several Red states HARD.
But in the Blue states, this almost amounts to a lower and middle class tax cut.
What do y'all think?
This means that all of the oil and gas holdings (and to a degree coal) owned by people like the Koch (pronounced "cock") brothers have just become stranded assets. It is probable that some billionaires who were invested heavily in fossil fuels and fossil fuel infrastructure are heading for ruin or near-ruin.
This also will hit the economies of several Red states HARD.
But in the Blue states, this almost amounts to a lower and middle class tax cut.
What do y'all think?
via International Skeptics Forum http://ift.tt/1xbyKii
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