Why rising oil prices risk setting 'stranded asset trap' for fossil fuel developers

Michael Holder
clock • 7 min read
Oil and gas prices have more than doubled over the past year | Credit: iStock
Image:

Oil and gas prices have more than doubled over the past year | Credit: iStock

Oil prices may have surged in recent months, but investing in new fossil fuel projects risks 'catastrophic levels of value destruction' when prices fall, new Carbon Tracker analysis warns

Oil and gas firms should resist using the recent rise in prices as a green light to plough more money into new production projects, as it could risk well over $500bn being wasted on assets that quickly...

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