This article presents one interpretation, and a strongly biased one at that. Although the headline is generally right when interpreted loosely, the text is scare mongering to try to give readers talking points on oil's side.

>Removing financial support for hydrocarbon companies will put a major bomb under the future of emerging economies. ... affecting the global economy ... blah blah

As the investment swings from oil and gas to renewables, the emerging economies can also pick up use of renewables. There is no rule saying they are not allowed to do so. But the writer of this article pretends that cannot happen.

Sure, the oil and gas crutch will be needed at first, but it can be phased out eventually, and doing so will create a huge boom in development of renewable technologies that will provide plenty of economic stimulus to replace the destructive money that was being dumped into the oil and gas money fire.