Fund Managers Predict the Decline of Oil, But We’ve Heard This Before

Watts Up With That?

GULF OF MEXICO – Transocean’s Development Driller II continues to dig a relief well in the Gulf of Mexico May 20, 2010. The Development Driller II and Development Driller III were brought into the area to drill relief wells in an effort to stop the flow of oil into the water after the Deepwater Horizon incident. U.S. Coast Guard photo by Petty Officer 3rd Class Barry Bena.

Guest opinion by Steve Goreham

World fund managers predict a fall in the value of oil companies. According to a survey published last month in the United Kingdom, climate change risks will force a lower valuation of oil company stock prices within the next five years. But despite many predictions of demise over the last 50 years, global consumption of hydrocarbon energy continues to grow.

Last month, the UK Sustainable Investment and Finance Association published its second annual “Not Long Now” survey, stating…

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