{"id":67251,"date":"2024-04-11T15:20:27","date_gmt":"2024-04-11T20:20:27","guid":{"rendered":"https:\/\/olduvai.ca\/?p=67251"},"modified":"2024-04-11T15:20:27","modified_gmt":"2024-04-11T20:20:27","slug":"were-supposed-to-be-done-finding-new-oil-and-gas-were-not","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=67251","title":{"rendered":"We\u2019re Supposed To Be Done Finding New Oil and Gas. We\u2019re Not."},"content":{"rendered":"
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We\u2019re Supposed To Be Done Finding New Oil and Gas. We\u2019re Not.<\/a><\/h3>\n

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\"We\u2019re<\/div>\n
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Oil and gas reserves discovered and approved just since 2021 would add an entire year of China\u2019s emissions to the atmosphere. That\u2019s according to\u00a0a new analysis from Carbon Brief<\/a>, using\u00a0Global Energy Monitor<\/a>\u00a0Data, and boy is it grim.<\/p>\n

A total of 14 billion tons of carbon dioxide are locked up in the new reserves. About 8 billion of that is in brand new discoveries just in 2022 and 2023, with the other 6 billion from previously known reserves newly approved in the last few years. This fossil fuel bonanza is spread around the world, with some areas with brand new or burgeoning industries like Guyana and Namibia playing a big role.<\/p>\n

This is not how it is supposed to go right now. In 2021,\u00a0researchers published a study in\u00a0Nature<\/em><\/a>\u00a0that estimated nearly 60 percent of oil and fossil gas needed to remain tucked away in the ground in order to have a chance at limiting warming to 1.5 degrees Celsius, the ambitious (and now likely lost) target set forth in the\u00a02015 Paris Agreement<\/a>. And that was the oil and gas we knew about\u00a0then<\/em>.<\/p>\n

\u201cFurthermore, we estimate that oil and gas production must decline globally by 3 per cent each year until 2050,\u201d those researchers added. That\u2019s, uh,\u00a0not what\u2019s<\/a>\u00a0happening so far<\/a>.<\/p>\n

Also in 2021, the International Energy Agency released its first \u201cNet Zero by 2050<\/a>\u201d roadmap, laying out the pathway to actually decarbonize the world\u2019s economy. In it, a familiar refrain: \u201cBeyond projects already committed as of 2021, there are no new oil and gas fields approved for development in our pathway.\u201d<\/p>\n

Then, last year,\u00a0from Oil Change International, an update<\/a>: …<\/p>\n

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…click on the above link to read the rest of the article…<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

We\u2019re Supposed To Be Done Finding New Oil and Gas. We\u2019re Not. Oil and gas reserves discovered and approved just since 2021 would add an entire year of China\u2019s emissions to the atmosphere. That\u2019s according to\u00a0a new analysis from Carbon Brief, using\u00a0Global Energy Monitor\u00a0Data, and boy is it grim. A total of 14 billion tons […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,4],"tags":[113,34032,24011,416,433,34240,1729,34239],"class_list":["post-67251","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-environment","tag-carbon-emissions","tag-cop28","tag-dave-levitan","tag-iea","tag-international-energy-agency","tag-oil-and-gas-discoveries","tag-oil-and-gas-industry","tag-splinter"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67251"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67251\/revisions"}],"predecessor-version":[{"id":67252,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67251\/revisions\/67252"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}