British financial think tank Carbon Tracker released its new report on Thursday, writhing that, with global oil prices rising to US$90 per barrel, investors may be lured into long-term fossil fuel projects, destroying the world's hopes to limit carbon emissions in line with climate targets and squanders billions in investment.
According to the report, recent oil price rally may make more potential projects look profitable. However, the analysis suggests that by the time these projects begin, demand for fossil fuels may have dwindled, creating a “nightmare scenario” for investors and climate activists.
