The last time prices rose this fast was 41 years ago. The last time the UK got through prime ministers this fast was the mid-1970s. The last time there was open war between major European powers was in 1945. The last time the Northern Hemisphere was this hot was probably 125,000 years ago.
Yet the FTSE 100 is worth more than ever, corporate profits are higher than ever, there are more British billionaires than ever. And oil companies are richer than ever.
If we took climate change seriously, the petroleum industry would be bankrupt. These firms borrow billions against the future value of reserves they are yet to drill, but atmospheric physics demands we can’t burn that carbon if we wish civilisation to survive.
