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this post was submitted on 20 Nov 2023
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It is nice that solar is finally in the lead, but it is deeply worrying, that the investions into oil are still at around 400bn $/a.
We need to be net neutral within the remaining emission budget, which is generally projected at 2050. The budget for the 1.5 °C goal at current emissions speed, runs out in 6 years
https://www.mcc-berlin.net/forschung/co2-budget.html
So these oil investments would need to have an ROI greater than 12% to become profitable within the next 6 years. Anyone who is involved in infrastructure and industry knows that to be ludicrous. Realistically these investments are projected with 30-50 years of operations. In order to meet 2050 we need zero oil investments right now