This week sees an entirely predictable (to those with any understanding at all of history and human nature) and somewhat satisfying swing in fortunes away from those who seek to destroy fossil fuels at all costs, even if those costs are much, much higher (which they are…) than the entirely uncertain and risky potential benefits being sought (ie. maybe, just maybe a slightly cooler future climate, if no other key factors like mega volcanoes, earthquakes, solar irradiance, ocean currents, etc. decide to take over proceedings at some point).
Yes, regardless of the incredibly warm feelings of happiness that increasingly pervade the net zero morning coffee and wine hour discussions of alarmists the world over, the end for fossil fuels does not seem nigh… nooooo, not by a long shot…
And this is just the start of the crisis.
By March 2022, after a cold northern winter and dramatic energy shortages, we may well all be given shares in oil and gas companies as part of our governments’ almost unavoidable next round of economic stimulus packages.
It’s a great time to be alive….
ARTICLE / SOURCE:
Climate change: Fossil fuel production set to soar over next decade – Yahoo
But instead of curbing carbon, many of the biggest emitting countries are also planning to significantly increase their production of fossil fuels, according to the UN.
The production gap report finds that countries plan to produce around 110% more fossil fuel than would be compatible with a 1.5C temperature rise by the end of this century. The plans are around 45% more than what’s needed to keep the temperature rise to 2C.
According to the study, coal production will drop but gas will increase the most over the next 20 years, to levels that are simply incompatible with the Paris agreement.