America is ditching coal
I stated early this year that 2016 would be a bad year for fossil fuels. It seems I was quite right as bad news keep on piling for coal in the United States.
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Fossil fuels
2016 will be more bad news for fossil fuels
It seems fossil fuels are starting this new year with a lot of bad news. It is not only a treehugger’s hope and dream but also an incresingly pressing reality. Let us start with reviewing coal.
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The European Union already cut its emissions by 23 percent
While the European Union officials – not ” leaders ” – keep on clinging to 20 % emissions reductions by 2020, the Union has already slashed its emissions by 23 percent. This is taking place ahead of the Paris Climate Conference later this year.
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Shell withdraws from the Arctic
This is such a huge win for the environment and such a huge loss for oil companies, especially Shell. The company announced recently that it was withdrawing its oil platform from the Arctic, where it was drilling for oil.
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Saudi Arabia is planning its fossil fuels’ exit by 2050
While the G7 Nations are thinking about whining themselves off fossil fuels by the end of the century and while some – most ? – oil companies are not really diversifying themselves, Saudi Arabia is planning its fossil fuels’ exit by 2040 or 2050.
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G7 Nations to decarbonize their economies
Now these are great news but there is a major catch, or perhaps two… The first one the date : by 2100, as in 85 years… The second one, they didn’t say even how they would cut emissions.
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Fossil fuels subsidies are worth $5.3 trillion
$5.3 trillion (or 4.7 trillion euros) : those are staggering figures as they amount to $10 million every single minute. The figures come from the International Monetary Fund, so one can be pretty sure of them.
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Those are tough times for fossil fuels companies
As odd as it might seem, oil prices at $60 are not making it any easier for Big Oil and the likes. The Financial Times published two articles on how coal, oil and gas are through tought times. Let us review them here.
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The United States are entering a post-oil world
When Bloomberg writes that in the United States “ Big Oil Is About to Lose Control of the Auto Industry ” you know there is something going on, especially when they rely on solid BNEF study and data.
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The beginning of the end for fossil fuels
Today, fossil fuels account for the vast majority of energy sources around the world today. This will change in the next decades as we reached a turning point as a new study revealed this week.
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