The ground continues to shift under the feet of the fossil fuel industry with the U.S. / China deal having a massive impact.
What the fossil fuel people have refused to consider for over a century is, people have used their products in the past for percieved convenience, in spite of the cost and the obvious pollution.
Now that the Chinese people are experiancing some of the highest rates of cancer of all types in the world, and are virtually not able to breathe thanks to over reliance on coal power, they are past starting to wake up to the dangers of fossil fuels as an energy source.
Combine that with their ability to process scientific data in regards to climate change, and their openess to act when presented with the opportunity to do so, by a phenomincal leader like President Obama, results in initiating a drastic change in energy policy. This becomes a sudden reality the fossil fuel industry finds they are unable to control.
The fossil fuel business is so used to being the only game in town that they don’t know how to compete. Worse yet for them, clearly they are loosing their ability to fool people through advertizing, that their technology is anything but old, dirty, dangerours and unmarketable to the truly informed consumer.
This is the second leg of the stool the fossil fuel monster has counted on that is collapsing under them, the consumer leg, the government leg being the first.
When the informed consumer unites with the worlds largest governments to leave the fossil fuel paridigm by adopting solar, energy efficiency and electric vehicles, the monster goes into high gear to buttress the first leg.
Attempting to strengthen the ever present, historically powerful first leg involves the outright purchasing of politicians to suppress competition. These overt actions are a futile attempt to prop up fossil fuels declining market share.
That will only work, with limited results, for a little while longer, as more and more people suffer at the hands of mass polluters.
Consider Nebraska’s rejection of the KXL pipeline and West Virginia’s recent victory against Peabody's (MTR) Mountain Top Removal coal mining.
These are both extremely conservative red states, who are waking up to the environmental havoc and destruction the fossil fuel beast has imposed on them for so long.
It turns out West Virginian's, who are desperately poor in many cases, and have lived off the land for hundreds of years, don't like seeing their entire ecosystems, that they have literally relied on to support their families, blown off the face of the earth by big coal.
Nor do Nebraskan's have any desire to see one of the nations largest and most pristine water tables subjected to oil spills from a pipeline that will surely leak. A spill from KXL would permanently destroy drinking water for a massive section of the United States mid-west and western states.
Now we are seeing the degredation of the third leg the fossil fuel industry that has been used to wield it’s dominance world wide, the finnancial leg.
When finannce figures out the fossil fuel industry represents the physical destruction of the earth, and they have as detailed in the link below, it’s just a matter of time before the monster falls.
Along with all of the fossil fuel industries challenges, they now find themselves in a battle against former allies.
With Saudi Arabia's recent decision to continue production at current rates, in spite of the price per barrel impact, shale and tar sands oil producers in the U.S. are now in the fight of their lives.
With current prices at 68.00 a barrel and dropping and 80.00 a barrel being the minimum price required for profitability in the mining of shale and tar sands, the Saudi's have initiated what they obviously feel is a production / price war shale and tar sands cannot win.
I'm sure oil commodity brokers see what's going on and are looking very seriously at Citi's Global Commodities reports.
Last year it was Barkley's warning investors about over exposure in the fossil fuels business.
This article is too good to just provide a snippet. I highly recommend reading the entire post.
http://bit.ly/1rXx8nX
