What if oil reserves became stranded assets?

Martin Wolf’s really cogent FT op ed is here. For loyal readers who can’t get behind the FT firewall, the gist is that investors would be smart to discount the value of oil reserves based on the possibility that they may eventually be ‘stranded assets’ as a result of Climate Change policies.

Thinking of the US as an OPEC member?

Here’s the story, in today’s FT.

I think this is an extremely big deal. The US foreign policy mindset hasn’t yet grokked this yet, but when it does, it may be parsimonious with the massive DOD recalibration that appears to be coming. It may also help stabilize the US debt issues over the long run.