For oil executives there are few things more exciting than expensive, large-scale projects aimed at pumping more of the black gold. That doesn’t mean investors in oil majors should approve. Large oil companies are betting up to $1.1 trillion on “high-risk” oil projects over the next decade, according to London-based think tank The Carbon Tracker Initiative . Investors, it says, should question the assumptions underpinning that spending. “Many oil companies are betting on a high demand and price scenario,” said James Leaton, research director at the CTI, a group that lobbies to change the evaluation of carbon-intensive projects. “Investors need get ahead of the carbon supply cost curve to ensure capital is not being wasted.” The CTI said it was especially concerned about projects which need oil prices to stay above $95 per barrel in order to remain profitable. Among the companies with the highest exposure […]