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Climate Change: Managing A Sustainable Planet

This is a punt week in energy:  Earnings are dribbling in, and I believe they’ll be disappointing, or at best mixed (as the Noble (NBL) report was today).  Overall, market averages are extended while the energy sector has been one of the strongest recently.  If you’re like me, you’re either standing pat in your energy portfolio or taking profits and waiting for another opportunity before investing fresh capital.

All of which brings to me to a Climate Change column, an issue worth talking about on any day, but especially worthy after just celebrating Earth day on Tuesday. You’ll rarely see an energy guy with relatively deep knowledge of the industry and markets surrounding fossil fuels discuss climate change but it’s a more practical view than you’re likely to get from the environmentalists as well as a more environmentally informed view than you’ll often get from the oil companies.  

So let me make a few points and then perhaps draw some basic conclusions.

1 – Anyone who remains a climate change denier or fancies that increased temperatures aren’t related to human endeavors and particularly the exhaust products of fossil fuel burning are unqualified to be a part of this most important debate.  The evidence is beyond overwhelming.

2 – Oil companies are in the very profitable business of procuring and selling fuels to be burned.  In addition, the share prices of…




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