Colossal Fossils Plot 35% Oil Production Increase Through 2030 – The Energy Mix
“If we were serious about addressing climate change we would leave some oil in the ground, so there is a scramble among big oil companies to make sure their assets are not the ones left stranded,” said Oxford University economist Dieter Helm. “Their answer is to pump as much as they can, while they still can, to keep delivering shareholder dividends. But the problem for the rest of us is that they are going to produce far more oil and gas than is consistent with the Paris Agreement.”
“Rather than planning an orderly decline in production, they are doubling down and acting like there is no climate crisis,” agreed Oil Change International Senior Research Analyst Lorne Stockman. “This presents us with a simple choice: shut them down or face extreme climate disruption.”