Get Ready for Peak Climate Porn Today

The new UN IPCC report on climate change dropped this morning, and guess what? The world is going to boil if we don’t end cheap energy right away. Bet you didn’t see that coming.

You can expect this message to be turned up to 11 by the media throughout the day. John Kerry will likely issue a strongly worded statement!

Here’s how Barrons magazine reports it this morning:

Climate Report Must Be ‘Death Knell’ For Fossil Fuels: UN Chief

A bombshell climate science report “must sound a death knell” for coal, oil and gas, United Nations Secretary-General Antonio Guterres said Monday, warning that fossil fuels were destroying the planet.

The Intergovernmental Panel on Climate Change concluded that the 1.5C temperature goal of the Paris Agreement would likely be breached around 2030 — a decade earlier than it itself projected just three years ago.

Guterres called the IPCC’s assessment — the most detailed review of climate science ever conducted — “code red for humanity. This report must sound a death knell for coal and fossil fuels, before they destroy our planet,” he said in a statement.

Countries should also end all new fossil fuel exploration and production, and shift fossil fuel subsidies into renewable energy.”

Also up at Barrons right now:

Why Royal Dutch Shell Has the Most Potential of Any Big Oil Stock

Of all the Big Oil stocks, Royal Dutch Shell is the one best positioned to deliver a gusher.

The British-Dutch colossus is the most profitable of the major international energy companies, yet it trades at a sharp discount to Exxon Mobil (ticker: XOM) and Chevron (CVX). Shell also offers investors a safe dividend yield of nearly 5%.

“Shell’s shares are materially undervalued based on the company’s industry-leading cash flows and strong franchises in liquefied natural gas, retail, and deep-water drilling,” says Dan Farb, a principal at Mill Pond Capital, a Boston investment firm that holds shares.

Heh. File this under, “Meanwhile, Back in the Real World.”

I’ll be back with updates later.

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