2016 Oct 22 By Editor 0 comment

  Electric car revolution may drive oil ‘investor death spiral’ The multi-trillion-dollar ‘big crash’ could start as soon as 2023, Bloomberg warns. Joe Romm Dr. Joe Romm is Founding Editor of Climate Progress, “the indispensable blog,” as NY Times columnist Tom Friedman describes it.   Advanced batteries could “tip the oil market from growth to contraction earlier than anticipated,” concludes the credit rating agency Fitch in a new study. Bloomberg New Energy Finance (BNEF) has already told investors to expect the ‘big crash’ in oil by 2028 — and as early as 2023. Fitch Ratings agency warns that if recent technology trends continue,…