SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
An aerial view of a Phillips 66 oil refinery is seen in Linden, New Jersey on May 11, 2022. (Photo: Tayfun Coskun/Anadolu Agency via Getty Images)
Study Finds Many Existing Oil and Gas Sites Must Be Shut Down to Avert Climate Disaster
"Our findings show that halting new extraction projects is a necessary step, but still not enough to stay within our rapidly dwindling carbon budget," said one researcher.
May 17, 2022
A new study published Tuesday in the journal Environmental Research Letters shows that keeping global warming below the key 1.5degC threshold will require not just halting the construction of new fossil fuel infrastructure, but also shutting down many existing sites.
"Some existing fossil fuel licenses and production will need to be revoked and phased out early."
Led by Kelly Trout of Oil Change International, the study estimates that 40% of fossil fuel reserves at currently operational development sites across the globe must be left in the ground if the world is to have a 50-50 chance of adequately slashing carbon emissions and limiting warming to 1.5degC above preindustrial levels.
If fossil fuel reserves at existing sites are extracted, the researchers find, nations will "substantially exceed" the 1.5degC carbon budget that corporations and governments are already burning through at an unsustainable clip.
The paper, which relies on a commercial model of the world's
25,000 oil and gas fields, leaves unanswered the question of precisely which existing development sites should be shut down, noting that "it requires considerations of equity and of the best mechanisms to manage a just transition away from fossil fuel jobs and revenues within and between countries."
One recent analysis suggests that some of the largest fossil fuel companies in the world are planning or already operating more than 190 "carbon bombs," huge oil and gas projects that could unleash nearly 650 billion tonnes of CO2 emissions and doom efforts to avert climate catastrophe.
"Our findings show that halting new extraction projects is a necessary step, but still not enough to stay within our rapidly dwindling carbon budget," said Greg Muttitt of the International Institute for Sustainable Development, a co-author of the new study. "Some existing fossil fuel licenses and production will need to be revoked and phased out early."
"Governments need to start tackling head-on how to do this in a fair and equitable way, which will require overcoming opposition from fossil fuel interests," Muttitt added.
The research comes as the fossil fuel industry is exploiting Russia's assault on Ukraine--and the punitive measures the West has taken in response--to lobby for new fossil fuel development. In late March, the Biden administration pledged to ramp up U.S. gas exports to European Union members as they attempt to wean themselves off of Russian fossil fuels.
Climate advocates warned that the White House's initiative would likely spur the construction of new pipelines and other fossil fuel infrastructure, potentially locking in more planet-warming pollution as scientists say emissions must be halved by 2030.
"Our study reinforces that building new fossil fuel infrastructure is not a viable response to Russia's war on Ukraine," said Trout, Oil Change International's research co-director. "The world has already tapped too much oil, gas, and coal. Developing more would either cause more dangerous levels of warming, if fully extracted, or create a larger scale of stranded assets."
Thijs Van de Graaf of Ghent University in Belgium, a study co-author, similarly cautioned that "each new coal mine, gas well, or oil field that is developed deepens political entanglement with the fossil fuel industry."
"Increasing the scale of extraction-related jobs and investments," he added, "only makes it harder for governments to manage."
Correction: This article has been slightly adjusted to better describe the nature of the 1.5degC threshold as set forth in the Paris Agreement.
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, It’s been nearly 30 years since I co-founded Common Dreams with my late wife, Lina Newhouser. We had the radical notion that journalism should serve the public good, not corporate profits. It was clear to us from the outset what it would take to build such a project. No paid advertisements. No corporate sponsors. No millionaire publisher telling us what to think or do. Many people said we wouldn't last a year, but we proved those doubters wrong. Together with a tremendous team of journalists and dedicated staff, we built an independent media outlet free from the constraints of profits and corporate control. Our mission has always been simple: To inform. To inspire. To ignite change for the common good. Building Common Dreams was not easy. Our survival was never guaranteed. When you take on the most powerful forces—Wall Street greed, fossil fuel industry destruction, Big Tech lobbyists, and uber-rich oligarchs who have spent billions upon billions rigging the economy and democracy in their favor—the only bulwark you have is supporters who believe in your work. But here’s the urgent message from me today. It's never been this bad out there. And it's never been this hard to keep us going. At the very moment Common Dreams is most needed, the threats we face are intensifying. We need your support now more than ever. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. When everyone does the little they can afford, we are strong. But if that support retreats or dries up, so do we. Will you donate now to make sure Common Dreams not only survives but thrives? —Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
A new study published Tuesday in the journal Environmental Research Letters shows that keeping global warming below the key 1.5degC threshold will require not just halting the construction of new fossil fuel infrastructure, but also shutting down many existing sites.
"Some existing fossil fuel licenses and production will need to be revoked and phased out early."
Led by Kelly Trout of Oil Change International, the study estimates that 40% of fossil fuel reserves at currently operational development sites across the globe must be left in the ground if the world is to have a 50-50 chance of adequately slashing carbon emissions and limiting warming to 1.5degC above preindustrial levels.
If fossil fuel reserves at existing sites are extracted, the researchers find, nations will "substantially exceed" the 1.5degC carbon budget that corporations and governments are already burning through at an unsustainable clip.
The paper, which relies on a commercial model of the world's
25,000 oil and gas fields, leaves unanswered the question of precisely which existing development sites should be shut down, noting that "it requires considerations of equity and of the best mechanisms to manage a just transition away from fossil fuel jobs and revenues within and between countries."
One recent analysis suggests that some of the largest fossil fuel companies in the world are planning or already operating more than 190 "carbon bombs," huge oil and gas projects that could unleash nearly 650 billion tonnes of CO2 emissions and doom efforts to avert climate catastrophe.
"Our findings show that halting new extraction projects is a necessary step, but still not enough to stay within our rapidly dwindling carbon budget," said Greg Muttitt of the International Institute for Sustainable Development, a co-author of the new study. "Some existing fossil fuel licenses and production will need to be revoked and phased out early."
"Governments need to start tackling head-on how to do this in a fair and equitable way, which will require overcoming opposition from fossil fuel interests," Muttitt added.
The research comes as the fossil fuel industry is exploiting Russia's assault on Ukraine--and the punitive measures the West has taken in response--to lobby for new fossil fuel development. In late March, the Biden administration pledged to ramp up U.S. gas exports to European Union members as they attempt to wean themselves off of Russian fossil fuels.
Climate advocates warned that the White House's initiative would likely spur the construction of new pipelines and other fossil fuel infrastructure, potentially locking in more planet-warming pollution as scientists say emissions must be halved by 2030.
"Our study reinforces that building new fossil fuel infrastructure is not a viable response to Russia's war on Ukraine," said Trout, Oil Change International's research co-director. "The world has already tapped too much oil, gas, and coal. Developing more would either cause more dangerous levels of warming, if fully extracted, or create a larger scale of stranded assets."
Thijs Van de Graaf of Ghent University in Belgium, a study co-author, similarly cautioned that "each new coal mine, gas well, or oil field that is developed deepens political entanglement with the fossil fuel industry."
"Increasing the scale of extraction-related jobs and investments," he added, "only makes it harder for governments to manage."
Correction: This article has been slightly adjusted to better describe the nature of the 1.5degC threshold as set forth in the Paris Agreement.
From Your Site Articles
A new study published Tuesday in the journal Environmental Research Letters shows that keeping global warming below the key 1.5degC threshold will require not just halting the construction of new fossil fuel infrastructure, but also shutting down many existing sites.
"Some existing fossil fuel licenses and production will need to be revoked and phased out early."
Led by Kelly Trout of Oil Change International, the study estimates that 40% of fossil fuel reserves at currently operational development sites across the globe must be left in the ground if the world is to have a 50-50 chance of adequately slashing carbon emissions and limiting warming to 1.5degC above preindustrial levels.
If fossil fuel reserves at existing sites are extracted, the researchers find, nations will "substantially exceed" the 1.5degC carbon budget that corporations and governments are already burning through at an unsustainable clip.
The paper, which relies on a commercial model of the world's
25,000 oil and gas fields, leaves unanswered the question of precisely which existing development sites should be shut down, noting that "it requires considerations of equity and of the best mechanisms to manage a just transition away from fossil fuel jobs and revenues within and between countries."
One recent analysis suggests that some of the largest fossil fuel companies in the world are planning or already operating more than 190 "carbon bombs," huge oil and gas projects that could unleash nearly 650 billion tonnes of CO2 emissions and doom efforts to avert climate catastrophe.
"Our findings show that halting new extraction projects is a necessary step, but still not enough to stay within our rapidly dwindling carbon budget," said Greg Muttitt of the International Institute for Sustainable Development, a co-author of the new study. "Some existing fossil fuel licenses and production will need to be revoked and phased out early."
"Governments need to start tackling head-on how to do this in a fair and equitable way, which will require overcoming opposition from fossil fuel interests," Muttitt added.
The research comes as the fossil fuel industry is exploiting Russia's assault on Ukraine--and the punitive measures the West has taken in response--to lobby for new fossil fuel development. In late March, the Biden administration pledged to ramp up U.S. gas exports to European Union members as they attempt to wean themselves off of Russian fossil fuels.
Climate advocates warned that the White House's initiative would likely spur the construction of new pipelines and other fossil fuel infrastructure, potentially locking in more planet-warming pollution as scientists say emissions must be halved by 2030.
"Our study reinforces that building new fossil fuel infrastructure is not a viable response to Russia's war on Ukraine," said Trout, Oil Change International's research co-director. "The world has already tapped too much oil, gas, and coal. Developing more would either cause more dangerous levels of warming, if fully extracted, or create a larger scale of stranded assets."
Thijs Van de Graaf of Ghent University in Belgium, a study co-author, similarly cautioned that "each new coal mine, gas well, or oil field that is developed deepens political entanglement with the fossil fuel industry."
"Increasing the scale of extraction-related jobs and investments," he added, "only makes it harder for governments to manage."
Correction: This article has been slightly adjusted to better describe the nature of the 1.5degC threshold as set forth in the Paris Agreement.
From Your Site Articles
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.