Thursday 28 March 2024

Burn, Baby, Burn!

In 2015, the Paris Accord aimed to (if at all possible) to limit global heating to 1.5 degrees Centigrade above Pre-Industrial levels. In 2021, the International Energy Agency noted that, to have any hope of achieving the Paris 'limit', there could be no extractions of fossil fuels from 'new' fields. 'Leave it in the ground', became the mantra. In 2023, however, some 20 new oil and gas fields were globally readied and approved (https://www.theguardian.com/environment/2024/mar/28/oil-and-gas-fossil-fuels-report). It's estimated, these 20 new fields, will add the equivalent of an extra 8bn barrels of oil to global extractions. By 2030, the fossil fuel industries plan to sanction, adding the equivalent of 31bn extra barrels, across 64 new oil and gas fields. The greatest additions will be made in the USA and Guyana. It seems 'Big Oil' (and its political cronies) will always find excuses to expand its extractions of coal, oil and gas. At the current extraction rates, these fossil fuels will all completely run out in circa 100 years. Wonder what state the planet will be in, by that time?

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