Surely a limited burn time means the fuels last longer? Particularly if it means reliance on renewable sources of energy to make up for any shortfall?

Only if there is no more release of greenhouse gases. There are already concerns that the temperature rises are already high enough to cause the release of all the methane currently stored in the Tundra. That will be a substantial release and could suddenly mean that fossil fuels could end up being taxes so much that they become uneconomic overnight. The report basically concludes that we may have to keep it in the ground because we cannot bring it up to burn, so it's value as a fuel will be zero. That could devastate the way energy companies are valued, because they are valued as being known reserves x price. If that price becomes zero because of carbon tax then it means that energy companies could become worthless overnight.

Not just that but countries that have already made a big switch to renewables or nuclear will probably fair a lot better than us. The rush to renewables might mean that energy prices will be very high, which will make renewables instantly the cheapest deal overnight.


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