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Guardian: Australia's huge coal industry is a speculative bubble ripe for financial implosion if the world's governments fulfil their agreement to act on climate change, according to a new report. The warning that much of the nation's coal reserves will become worthless as the world hits carbon emission limits comes after banking giant Citi also warned Australian investors that fossil fuel companies could do little to avoid the future loss of value.
Australia is already the globe's biggest coal exporter......
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Carbon bubble makes Australia’s coal industry ripe ‘for financial implosion’
Posted by Washington Post: Juliet Eilperin on April 28th, 2013
Posted in Water Conservation