Oil explorers like Exxon Mobil Corp. and OAO Rosneft risk wasting $1.1 trillion of investors’ cash through 2025 on expensive, uneconomic projects from the Arctic and deep seas to tar sands, according to a study. That’s the sum the industry may spend on developments that need market prices of at least $95 a barrel to break even, the Carbon Tracker Initiative said. The money risks being wasted as the total amount of oil the world can afford to burn without warming the planet to unsafe levels is available from less costly deposits that are economical at $75 a barrel, according to its report. Petroleo Brasileiro SA’s capital spending on projects needing $95 a barrel or more may reach $83 billion through 2025, with Exxon at $73 billion and Rosneft at $70 billion, Carbon Tracker said. The figures aren’t the companies’ own figures but were estimated by the non-profit group, […]