Surge of US-Led Fossil Fuel Projects Could Blow Up Paris Climate Goals
Oil storage tanks at an oil refinery near Salt Lake City, Utah.Jon G. Fuller / ZUMA
This story was originally published by the Guardian and is reproduced here as part of the Climate Desk collaboration.
The world’s fossil-fuel producers are on track to nearly quadruple the amount of extracted oil and gas from newly approved projects by the end of this decade, with the US leading the way in a surge of activity that threatens to blow apart agreed climate goals, a new report has found.
There can be no new oil and gas infrastructure if the planet is to avoid careering past 1.5 degrees Celsius (2.7 degrees Fahrenheit) of global heating, above pre-industrial times, the International Energy Agency (IEA) has previously stated. Breaching this warming threshold, agreed to by governments in the Paris climate agreement, will see ever worsening effects such as heatwaves, floods, drought and more, scientists have warned.
But since the IEA’s declaration in 2021, countries and major fossil fuel companies have forged ahead with a glut of new oil and gas activity.........
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