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Thursday, July 25th, 2024

Revealed: wealthy western countries lead in global oil and gas expansion

Author:     Oliver Milman and Nina Lakhani
Source:     The Guardian (U.K.)
Publication Date:     Wed 24 Jul 2024 | 06.00 EDT
 Link: Revealed: wealthy western countries lead in global oil and gas expansion
Stephan:  

This report in The Guardian describes both the shame and the corruption of the United States and other rich countries, and the servitude of the many to the few. It assures we will not meet the Paris accord for climate control. As it says, “the oil and gas rush, led by the richest countries, risks demolishing hopes that the world can stay within internationally agreed-upon limits aimed at preventing catastrophic heatwaves, wildfires, flooding and other impacts. No new oil and gas project can proceed if the Paris agreement, which calls for global temperatures to be restrained to a 1.5C (2.7F) rise above preindustrial levels, is to be met, according to the International Energy Agency.” What this means is that your life and mine, and the lives of our children and their children have been condemned to the misery, death, and forced migration climate change will create for humanity, so that a tiny percentage of the world’s population can stay rich.

A surge in new oil and gas exploration in 2024 threatens to unleash nearly 12bn tonnes of planet-heating emissions, with the world’s wealthiest countries – such as the US and the UK – leading a stampede of fossil fuel expansion in spite of their climate commitments, new data shared exclusively with the Guardian reveals.

The new oil and gas field licences forecast to be awarded across the world this year are on track to generate the highest level of emissions since those issued in 2018, as heatwaves, wildfires, drought and floods cause death and destruction globally, according to analysis of industry data by the International Institute for Sustainable Development (IISD).

The 11.9bn tonnes of greenhouse gas emissions – which is roughly the same as China’s annual carbon pollution – resulting over their lifetime from all current and upcoming oil and gas fields forecast to be licensed by the end of 2024 would be greater than the past four years combined. The projection includes licences awarded as of June 2024, as well as the oil and gas blocks open for bidding, under evaluation or planned.

Meanwhile, […]

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