Dear editor,Whether it be the coal mine proposed for the Baynes Sound area, or the Enbridge pipeline, the argument against each is the same.Fossil fuels are a regressive industry causing collateral damage far outweighing any supposed benefits. Rather than investing in fossil fuels, we should be looking to develop renewable energy sources.A week ago, an open letter to the governor of the Bank of England warned that the global drive to reduce carbon emissions could mean billions of dollars of fossil fuel reserves will rapidly lose value and cause a major problem for institutional investors and pension funds. (Guardian.co.uk 19 Jan 2012)."Investors continue to pour cash into unsustainable assets without understanding the risks associated with these investments, such as climate change, local pollution, fossil fuel price volatility, political risk and environmental catastrophes", said a member of the British prime minister's business advisory group.As with the housing bubble, there is now talk of a carbon bubble, due to overinvestment in the fossil fuel industry, which is on its way to becoming a fossil industry. Meanwhile global investment in clean energy reached a new high last year, despite the world financial crisis.We need to be in that playing field. Let's not allow our politicians to take B.C. the way of the dinosaurs. M. Vaughan,Black Creek
