Faulty energy forecasts are costing investors 'hundreds of billions.

Since September 2011, “many hundreds of billions” of investors’ dollars have been squandered due to investment decisions led by poor forecasts, an energy expert has said.

Poor investment decisions made in the American oil, gas and coal sectors, the European power utilities sector and by oil-producing countries have seen investors suffer, the founder of Bloomberg New Energy Finance (BNEF), Michael Liebreich said in a September keynote address.

But, these decisions have been informed by forecasts that may not have been up to scratch, he said, arguing that “bad forecasts from authoritative agencies have consequences”.

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