Coronavirus crisis could cause $25tn fossil fuel industry collapse

The coronavirus outbreak could trigger a $25tn (£20tn) collapse in the fossil fuel industry by accelerating a terminal decline for the world’s most polluting companies. A study has found that the value of the world’s fossil fuel reserves could fall by two-thirds, sooner than the industry expects, because the Covid-19 crisis has hastened the peak for oil, gas and coal demand.
Read more: https://www.theguardian.com/business/2020/jun/04/coronavirus-crisis-collapse-fossil-fuels-demand?CMP=Share_iOSApp_Other?source=Snapzu