CRC's Costly Exit: A Cautionary Tale for Fossil Fuel Investors The sale of California Resources Corporation's (CRC) Uinta Basin assets to an undisclosed buyer for $90 million raises more questions than answers about the future of fossil fuel investments.
On one hand, this transaction allows CRC to redeploy capital towards higher value opportunities within its core operating region in California.
However, it sets a worrying precedent for investors and companies alike: is the quick buck from selling off non core assets worth sacrificing long term potential?