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Wealthy Western Countries Lead in Global Oil and Gas Expansion
A surge in new oil and gas production in 2024 threatens to unleash nearly 12 billion 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 reveals. From a r...
A surge in new oil and gas production in 2024 threatens to unleash nearly 12 billion 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 reveals. From a report: 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). 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.
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