, Columnist
The Slow Death of Diesel
Ideally, Europe's carmakers would stop spending billions on combustion. But they can't.
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Oil industry investors are all too familiar with the concept of "stranded assets": the risk that climate policies make hydrocarbon resources financially unviable. It's not just oil. In Europe, coal and gas-fired power stations have been left stranded by solar and wind's ascendance, resulting in billions of euros of impairments.
There are reasons to think Europe's autos industry might be sidelined too.