Hockey Stick Co-Author Gives Financial Advice: Attacks ExxonMobil, Shell, BP as overvalued because reserves are ‘unusable’

When tree-ring reader Ray Bradley speaks…

Ray Bradley said:

[Fossil fuel reserves] are almost unusable. Because the environmental consequences of using those resources would be totally catastrophic. So in that sense, the valuation of many of our major companies — like Exxon, Shell and BP — the valuation of those companies is based on their assets. And where are their assets? Their assets are in the ground now. So when somebody values that company and says well they have all those reserves, but those reserves are unused and to a large extent are unusable. And I think that message has to be made more visible. These companies are overvalued because their assets are essentially unusable and it’s the same with the tar sands. We can’t use what we’ve got already. Why do we need more other than to prop up the Alberta government and the Harper government, too?

Watch the video below. This clip begins at about 1:09.

4 thoughts on “Hockey Stick Co-Author Gives Financial Advice: Attacks ExxonMobil, Shell, BP as overvalued because reserves are ‘unusable’”

  1. End the argument about energy and solve the national debt – unemployment and the standard of living for factory workers.

    A BOLD NEW ENERGY POLICY TO SAVE THE AMERICAN WAY OF LIFE!!!

    We put millions of skilled workers on manufacturing jobs building 500 to 1,000 Nuclear power plant of a low cost standard design. This will provide all the energy to accomplish a full restoration of our industrial base. How will this happen you ask?

    First we “MINE” the oceans for gold, silver, copper, uranium, methane, manganese and other valuable minerals and metals. It has been estimated that it will be profitable to mine gold from the seas at around $ 3,000 per ounce. Second we use cheap nuclear power to extract these metals which could make a profit to pay off the national debt. Third we use the byproduct “WATER” to farm the huge vacant dry south west feeding the entire planet with low cost food.

    Finally we use the cheap nuclear power to build factories to manufacture everything the entire planet needs and we return to zero unemployment and can pay good wages because we have free energy that makes a profit in it’s creation.The money generated can payoff all debts, build nuclear reprocessing plants, research and develop a system to render nuclear waste harmless.

    Just think, full employment, no energy crisis ever, gold to make money valuable, make the dollar the strongest currency on earth, end inflation, end government debt. Just imagine “AMERICA REBORN AND THE DREAM FULFILLED!!!

  2. The consequences of not using those resources are much worse than Bradley’s imagined consequences from using them.

  3. That, and with so much wealth and well-being at stake, the resources will be used. If the wealthiest nations are foolish enough to shun them, the second- and third-tier nations will be all over them like a coyote on a sleeping roadrunner.

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