More states opt to phase out oil production

(Climate News Network, 29 Nov 2018) Cutting fossil fuel supply can help to limit demand, and more governments are deciding to phase out oil production, a new study finds.

A growing number of governments are choosing to phase out oil production, reasoning that cutting the availability of fossil fuels can help to cut the demand for them.

The world needs to reduce greenhouse gas emissions as fast as possible, yes? And one of the main causes of the emissions is the burning of fuels such as oil, gas and coal? Right again. So the simple and obvious answer, these governments are deciding, is to stop the drilling and mining which extract fossil fuels.

That’s the argument examined in a report by researchers from the Stockholm Environment Institute (SEI). There’s already a growing movement to leave fossil fuels in the ground. But their study concentrates specifically on governments.

They say phasing out oil production could be the next big step in climate policy, thanks to an initial group of first-movers who’ve already taken the plunge.

One is Spain, which announced this month that it plans to completely decarbonise its electricity system by mid-century, a move which includes a total ban on all oil and gas exploration.

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Climate News Network, 29 Nov 2018: More states opt to phase out oil production