Phaseout Profit Theory works for all flavors of fossil fuel. But oil should come first actually implementing it. There are several reasons for that. For one, oil will run out substantially faster than coal, since there is much more coal left than oil. Also, people have already tried to set up caps on oil supply with OPEC and the Texas Railroad Commission. And cheap oil is more damaging than cheap coal to the environment. Cars don’t run on coal. Cheap gasoline delays the transition to electrical vehicles. Finally, right about now would be excellent timing to get oil prices up again, since they have gone down substantially lately. Oil producers around the globe are feeling the pain from those price reductions, which should make them interested in finding a remedy. The international community just decided in Paris to limit global warming to 2 degrees Celsius, and aim for 1.5 if possible. That means that the majority of oil can’t be burned. That in turn means that the…
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