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Wednesday, March 23rd, 2022

Rich Nations Must Cut Off Oil and Gas by 2034 to Keep Climate Hopes Alive: Report

Author:     Jake Johnson
Source:     Common Dreams
Publication Date:     March 22, 2022
 Link: Rich Nations Must Cut Off Oil and Gas by 2034 to Keep Climate Hopes Alive: Report
Stephan:   It is becoming clearer week by week that the world simply is not taking climate change seriously enough. THe one good thing, if I can call it that, to come out of the Ukraine war is that it will stimulate countries to speed up the transition out of the carbon power era. But as matters stand it looks like millions of people are going to suffer because this change is not being faced as it should be.
“There are no exceptions; all nations need to begin a rapid and just phaseout of existing production,” declares a new report. Credit: Shutterstock

Dire new research published Tuesday estimates that rich countries must end oil and gas production entirely by 2034 to give the world a 50% chance of limiting warming to 1.5°C by the close of the century—the Paris accord’s most ambitious climate target.

Assembled by experts at the United Kingdom-based Tyndall Centre for Climate Change Research, the report finds that “immediate and deep cuts in the production of all fossil fuels” are needed worldwide to avert the worst of the ongoing climate emergency.

“Oil and gas boosters claim more fossil fuels are the answer, but nothing could be further from the truth.”

“There are no exceptions; all nations need to begin a rapid and just phaseout of existing production,” the analysis states. “There is no capacity in the carbon budget for opening up new production facilities of any kind, whether coal mines, oil wells, or gas terminals. A transition based on principles of equity requires wealthy, high-emitting nations to phase […]

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