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Surplus of oil and coal could lead to new crisis

Investments in coal and oil companies could trigger a new financial crisis if the UN's ambition to convert to sustainable energy is observed, experts warn.

Photo: Øyvind Hagen/Statoil

BY PETER PAGH-SCHLEGEL, JYLLANDS-POSTEN

Since the 1973 oil crisis, the financial sector's biggest nightmare has been that the earth's oil and gas reserves would run out. But the scenario could very well look completely different now.

Because there is far too much oil and gas available today, compared to the volumes that UN countries are planning to consume. Experts say this could have serious consequences for investors, according to a report by the British research group Carbon Tracker Initiative and researchers from London School of Economics.

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