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Energy Companies Face Crude Reality: Better to Leave It in the Ground

Wall Street Journal, February 17, 2017 writes:

A new era of low crude prices and stricter regulations on climate change is pushing energy companies and resource-rich governments to confront the possibility that some fossil-fuel resources will remain in the ground indefinitely.

In a signal that the prospect is growing more likely, Exxon Mobil Corp. has said that as many as 3.6 billion barrels of oil that it planned to produce in Canada in the next few decades is no longer profitable to extract. A disclosure is expected in the coming week.

The step stems from U.S. regulations that require companies to take oil reserves off their books if they aren’t profitable at existing prices or can no longer be included as part of five-year development plans.   Read more...

This poses a financial problem for the fossil fuel industry.  Wouldn't it be great if future reserves could be converted into a global competitive edge through investment in renewable energy and storage solutions.  How might we support such a win-win proposition?