Turn off the valve’

Highlights:

  • Oil and gas industry leaders argue that the world will continue to “be thirsty for all energy sources” in the coming years, despite calls to keep fossil fuels in the ground.
  • The burning of fossil fuels was described by Tom Goldtooth, a climate activist and executive director of the North American Indigenous Environmental Network. It’s like filling a bathtub with much too much water, he says. “It’s bursting at the seams with carbon. More can’t be taken in by the globe.”
  • The so-called Glasgow Climate Pact, which was adopted at COP26 in November, aimed to build on the Paris Agreement and mitigate the worst effects of the climate problem. Although it has been chastised for promises to “scale down” coal, fossil fuel subsidies, and financial aid to low-income nations, it continues to do so.

Going after an Immediate End to Fossil Fuel

Climate activists and campaign groups are working to bring the fossil fuel era to a close quickly. They’re calling the latest wave of net-zero pledges from a slew of nations and corporations a ruse that won’t fulfill the demands of the climate emergency.

Leaders in the oil and gas business are opposed to calls to keep fossil fuels in the ground, claiming that the world will continue to “be thirsty for all energy sources” in the coming years.

To be sure, the combustion of fossil fuels like coal, oil, and gas is the primary cause of the climate problem, as scientists have consistently said. The emphasis was on cutting greenhouse gas emissions as rapidly as possible as the best weapon to combat rising global temperatures.

“The simple solution, which we are still demanding,” Goldtooth said, “is for the world to turn the valve off.” On the fringes of the Glasgow meeting in November, he spoke at The People’s Summit for Climate Justice, an event held by the COP26 Coalition.

He stated, “The net-zero solution is not a solution.” “It will not get us to 1.5 degrees Celsius, and it will not get us to where we need to be.”

Role of Big Oils in the Energy Transition

Renewable energy sources will be the dominant source of additional electricity generation until 2050, according to the US Energy Information Administration’s International Energy Outlook 2021, released in early October. However, fossil fuels like natural gas and coal will continue to be used to meet demand and maintain grid stability.

It arrives at a time when the total amount of available renewable energy is increasing, but not at the same rate as global energy consumption.

A Massive Scam – ‘Offsetting’

Carbon collection, utilization, storage, and sequestration technologies are prominently featured in governments’ climate strategies. They also include some of the world’s top oil and gas firms’ net-zero ambitions.

Fossil fuel proponents say, ‘carbon capture technologies will enable companies and countries to keep on burning fossil fuels.’

Climate scientists, campaigners, and environmental advocacy groups all dispute this. Nonetheless, some contend that these schemes give cover for polluting industries to continue doing business as usual.

“Offsetting is a gigantic swindle, and it’s a huge problem,” Sara Shaw, an international program coordinator for climate justice and energy at Friends of the Earth International, said.

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