If the world is to avoid climate turmoil, there are no new oil and gas megaprojects, says the IEA chief | Environment

World-leading energy economists warn against investing in the development of large-scale new oil and gas that will devastate the planet, with little impact on the current energy crisis and rising fuel prices. increase.

Fatih Birol, Managing Director of the International Energy Agency (IEA), Guardian Survey This revealed that fossil fuel companies are planning a huge “carbon bomb” project that will cause a climate catastrophe.

He said countries must endeavor to exchange Russian oil and gas in the short term without compromising their long-term outlook.

“We understand that some countries may consider new fossil fuels, but we need to keep in mind that it will take years to start production,” he said. “”[Such projects] It will limit the use of fossil fuels, not a solution to urgent energy security needs. “

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Guardian exposure indicates that nearly 200 carbon bomb projects are planned or have already begun pumping. This will generate at least 1 billion tonnes of carbon dioxide emissions in a lifetime, equivalent to about 18 years of global emissions today.

Companies pursuing such developments could end up in uneconomical stranded assets, Birol warned. “If the world succeeds in moving to Net Zero, these projects may not be able to recover their upfront development costs,” he said in an interview with Guaridan.

Soaring global energy prices have led the government to seek new sources of fossil fuels. “I understand why countries are reacting this way,” he said. “But there is a time range issue.”

Birol warned that large-scale new exploration projects for oil, gas and coal could take years to produce fuel and trap large greenhouse gas emissions for decades.

“The most appropriate projects are those with short lead times and short paybacks, such as expanding production from existing areas,” he said.

Using existing sources more efficiently can also help reduce emissions, Birol said.

He also says the government must strive to urgently reduce fossil fuel demand through housing insulation, reduced speed limits, cheaper or free public transport, and the introduction of Car-Free Days in cities. Stated.

“I’m worried that energy distribution might be at the table without these voluntary measures,” he said.

Unlike previous oil crises such as the 1970s, Virol said cheaper alternatives are now available in the form of plunging solar and wind power. This will allow governments and businesses to further promote renewable energy.

“We believe there is an opportunity to make this a historic turning point for cleaner and safer energy systems,” he said. “This is the first time I’ve seen this momentum behind the shift to clean energy.

“The world does not have to choose between an energy crisis and a climate crisis. We can do both.”

The UN Secretary-General also called for the end of a new fossil fuel project and warned that climate change poses “a threat that exists for all of us, the world.”

At a press conference on Wednesday, Antonio Guterres said: This means accelerating the end of fossil fuel addiction and accelerating the introduction of clean renewable energy. “

The IEA advised almost exactly a year ago: No new gas, oil or coal could be developed If the world limits the heating of the earth to 1.5 ° C from this year onwards.The discovery caused a shock wave among governments in the preparatory stage of the government. United Nations Cop26 Climate Summit in Glasgow in NovemberThe leader has agreed to proceed with the national plan in line with the 1.5C limit.

However, as Guardian’s research on fossil fuel projects under development shows, many countries and private companies ignore this advice. These carbon bombs virtually eliminate the desire to stay within the 1.5C threshold.

Greg Muttitt, an energy expert at the International Institute for Sustainable Development, said: And the mine that exacerbates the problem. The policy answer is simple. When you’re in a hole, you need to stop digging. “

Greenpeace said a Guardian study revealed that “the business model of the fossil fuel industry is still a blueprint for climate disasters.”

“Investment plans by oil and gas companies blow us beyond all the assessments of what is safe for the climate, and it’s shocking,” said Charlie Chronic, senior climate advisor to the group. rice field.

“But what’s really shocking is that they don’t hide it. These activities are legal and, in fact, encouraged by governments around the world, especially those with the largest reserves and the greatest losses. increase.”

Caroline Lucas, a member of Parliament for the Green Party in the United Kingdom, responded to the Guardian’s investigation by saying:How many more times do I have to tell the fossil fuel company? #keepitintheground?? “

Ed Miliband, Secretary of Net Zero in Shadow Climate Change, said: All countries must make further progress in order to accelerate the transition to clean energy rapidly.

“This is the right response to the climate crisis, but it is also the right response to the living and energy security crisis. Renewable energy is now much cheaper and the safest form of energy.

“Governments around the world need to urgently invest in green energy sprints to permanently shift away from destructive, expensive and volatile fossil fuels.”

If the world is to avoid climate turmoil, there are no new oil and gas megaprojects, says the IEA chief | Environment

Source link If the world is to avoid climate turmoil, there are no new oil and gas megaprojects, says the IEA chief | Environment

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