Do you see Stranded Assets?
Another interesting article in The Guardian today.
Cars, aviation, steel ... the stranded assets risk spreads far beyond fossil fuel firms | Andrew Simms | Environment | The Guardian
Cars, aviation, steel ... the stranded assets risk spreads far beyond fossil fuel firms
VW is paying the price of revelations that ‘clean diesel’ is as much a lie as ‘clean coal’ - in a low-carbon economy 100s of energy intensive industries will have to reinvent themselves or become similarly exposed
Responding to the emissions rigging crisis embroiling the German car maker Volkswagen, the Financial Times speculated that Europe’s focus on diesel “may have driven its car industry up a technological dead end”.
In an article on why the Volkswagen scandal was worse than the one which destroyed the energy company, Enron, David Bach of Yale Management School, pointed out how “clean diesel”, it turns out, is as much a lie as “clean coal”. Politicians and regulators allowed themselves to be swept up in that lie to the point where it destroyed the reputation of Europe’s economic powerhouse for straight-talking, technical efficiency almost overnight, and in a sector, car making, synonymous with ‘brand Germany’.