We not only want to reveal to investors which firms are
undervalued (both
on a discounted cash flow and
relative value
basis), in our view, but we also want to provide investors with the information needed to anticipate entry and exit points.
«[Howarth et al.'s] analysis is seriously flawed in that they significantly overestimate the fugitive emissions associated with unconventional gas extraction,
undervalue the contribution of «green technologies» to reducing those emissions to a level approaching that of conventional gas,
base their comparison between gas and coal
on heat rather than electricity generation (almost the sole use of coal), and assume a time interval over which to compute the
relative climate impact of gas compared to coal that does not capture the contrast between the long residence time of CO2 and the short residence time of methane in the atmosphere.»