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SilverNicktail t1_j5ur5f3 wrote

Reply to comment by half3clipse in Danske Bank Quits New Fossil Fuel Financing by echosayswhat

>It's more likely to do with new projects just not being a good investment anymore.

That in itself is pretty great?

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half3clipse t1_j5uv33n wrote

Sure. Well kinda. Obviously things are complicated. Positive in that it ultimately means petro companies have given up on overtly fighting change and are now preparing to weather it.

It's more that the other poster seem to be under the impression that this just means more money for other banks and Danske Bank is doing this because they specifically aren't making much on it. This means there's 'less' money for oil going around period. Especially compared to a decade ago where you barely had to convince a bank you could actually break ground to get financing.

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SilverNicktail t1_j5uvw1u wrote

> Positive in that it ultimately means petro companies have given up on overtly fighting change and are now preparing to weather it.

I think that's certainly the case for more than a few of them. One of the better EV charger networks in the UK is run by BP of all people. That's a sign to me that they're at least looking for what comes next, even if they're dragging their feet.

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