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(Mark Hulbert, an author and longtime investment columnist, is the founder of the Hulbert Financial Digest; his Hulbert Ratings audits investment newsletter returns.)
CHAPEL HILL, N.C. (Callaway Climate Insights) — The increased production of oil and gas in recent years might not mean what we think it does: It could be tacit recognition by oil-rich countries and fossil fuel companies that the market for their resources will eventually shrink or disappear.
This possibility was first proposed in a controversial 2008 book titled “The Green Paradox,” by the German economist Hans-Werner Sinn. He argued that, far from viewing green policy measures as impotent, oil-rich countries and fossil-fuel producers perceive them as a grave threat.