<
https://www.theguardian.com/environment/article/2024/jul/24/new-oil-gas-emission-data-us-uk>
"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, fossil fuel firms are ploughing more money into developing new oil
and gas sites than at any time since the 2015 Paris climate deal, when the
world’s governments agreed to take steps to cut emissions and curb global
heating.
The world’s wealthiest countries are economically best placed – and obliged
under the Paris accords – to lead the transition away from fossil fuels to
cleaner energy sources. But these high-capacity countries with a low economic
dependence on fossil fuels are spearheading the latest drilling frenzy despite
dwindling easy-to-reach reserves, handing out 825 new licences in 2023, the
largest number since records began.
Classic “petrostates” such as Saudi Arabia or Russia – which rely heavily on
oil and gas revenues to balance their budgets – have faced criticism for
slowing action on the climate crisis. Yet countries including the UK, the US,
Canada, Norway and Australia are increasingly being thought of by some experts
as the “other petrostates” , given they have access to financial and
technological resources that would make the energy transition less disruptive.
While they are often portrayed as climate leaders on the world stage, these
five wealthy countries are responsible for more than two-thirds (67%) of all
new oil and gas licences issued globally since 2020.
“The logical first step in a ‘transition away’ from oil and gas is to stop
opening new fields,” said co-author Olivier Bois von Kursk, who is a policy
adviser at the IISD.
“So it is deeply concerning that exploration activity has not just continued
since the Cop28 agreement but increased. Rich countries with relatively low
dependence on fossil fuel revenues should be the first to stop issuing
licences. We’re not seeing that in the data.”"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
