Despite frequent and devastating heat waves, droughts, floods and fire, major fossil fuel-producing countries still plan to extract more than double the amount of fossil fuels in 2030 than is consistent with the Paris climate accord’s goal for limiting global temperature rise, according to a United Nations-backed study released Wednesday.
Coal production needs to ramp sharply down to address climate change, but government plans and projections would lead to increases in global production until 2030, and in global oil and gas production until at least 2050, the Production Gap Report states. This conflicts with government commitments under the climate accord, which seeks to keep global temperature rise below 1.5 degrees Celsius (2.7 degrees Fahrenheit).
The report examines the disparity between climate goals and fossil fuel extraction plans, a gap that has remained largely unchanged since it was first quantified in 2019.
Well of course. Profits for shareholders is more important than saving the environment, obviously
I blame John Wayne; because it’s the idea of rugged American individualism that prevents collective actions to curb the externalities of capitalism. Or something…I don’t know…. /s