The Real Reason for Climate Change Denial: Oil Cos. Would lose 60% of their Value

HSBC estimates that if the world adopted the policies necessary to keep global warming to only 2 degrees C. (3.6 degrees F.), oil companies would abruptly lose 60% of their value, as Hilde øvrebekk Lewis points out.

Likewise, if the true cost of climate change and the inevitability of the need to move quickly to renewables were publicly recognized, countries like Norway might be plunged into crisis as long as their conservative governments had no plans to deal with the problem.

Daryl Hannah made similar points in a Young Turks interview last summer: