Despite global efforts to reduce carbon emissions and slow down global warming, the world’s biggest fossil fuel companies are planning dozens of “carbon bombs” – massive oil and gas projects that would drive the climate past internationally agreed temperature limits.
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Despite global efforts to reduce carbon emissions and slow down global warming, the world’s biggest fossil fuel companies are planning dozens of “carbon bombs” – massive oil and gas projects that would drive the climate past internationally agreed temperature limits.
An investigation published by The Guardian found that these companies are in effect placing multibillion-dollar bets against humanity halting global heating,”as these huge investments could only pay off if the world fails to take action against carbon emissions.
According to The Guardian’s investigation, the fossil fuel industry’s plans for expanding production include 195 carbon bombs that would each result in at least a billion tons of CO2 emissions over their lifetimes.Roughly 60% of these have already started pumping.
While countries like China, Russia, and India attract the most criticism for future oil and gas production, the U.S. has the most extensive expansion plans and the highest number of carbon bombs globally. An analysis shared with The Guardian found that planned drilling and fracking projects across the U.S. will release 140 billion metric tons of planet-heating gases if fully realized.
According to a study soon to be released in the Energy Policy journal, emissions from these oil projects are four times larger than all of the planet-heating gases expelled each year globally, placing the world on track for disastrous climate change.
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