A new study published on May 17 revealed that almost half of all existing oil production facilities should be closed if global temperatures remain below 1.5C, an international measure to prevent climate catastrophe. Research shows that stopping the construction of a new fuel economy is not enough.

The carbon budget is rapidly declining: “Our findings suggest that stopping new mining projects is a necessary step, but it is not enough to stay on our ever-shrinking budget,” Greg Muttitt of the International Institute for Sustainable Development, co-author of the new research, said in a statement. Press release. “Some existing petrol licenses and production will need to be revoked and terminated early.”

“Governments must begin to address the issue in a fair and equitable manner, which will need to overcome opposition from fuel interests,” Muttitt added.

The study is based on the commercial model of the world’s 25,000 oil and gas resources. It highlights that 40 percent of fossil fuels in developing countries around the world should be abandoned to avoid climate catastrophe.

However, the study fails to identify which existing development sites should be closed, stating that “it requires equitable consideration and best practices to control the transition from mineral oil and gas revenues within and between countries.”

The Russian-Ukrainian war makes matters worse.
The study comes as the Ukrainian war pressures countries to produce more oil. This says Kelly Trout, research director of Oil Change International and research leader, is a hazardous development.

“Our research emphasizes that building a new fuel infrastructure is not a viable solution to the Russian war in Ukraine. In a statement, the world is already affected by many oil, gas, and coral—trout.

However, the study did not consider how much CO2 could be emitted into the atmosphere by future developments in technologies such as carbon capture and storage. This may be a significant way to reduce emissions, but Muttit told The Guardian that these incidents were still unresolved.

“This technology has not been proven to be a high standard,” Merritt said. “There is a lot of talk about it, but we believe it would be a mistake to predict to achieve climate targets in terms of those being delivered on a much larger scale. We do not know what will happen to us financially or in terms of governance.”

Meanwhile, people around the world continue to suffer from gas emissions. In February 2021, a study found that 8.7 million people worldwide died in 2018 due to breathing polluted air containing particles from fats.

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Alice Jane
Alice is the Chief Editor with relevant experience of three years, Alice has founded Galaxy Reporters. She has a keen interest in the field of science. She is the pillar behind the in-depth coverages of Science news. She has written several papers and high-level documentation.

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