economy

pump jack drilling for oil
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What ending fossil fuel extraction across the world would look like

Washington Post: What if the entire world stopped extracting fossil fuels? Here’s what it would take to phase out oil, gas and coal, writes Shannon Osaka in the Washington Post.

In a nutshell:

Calls to halt fossil fuel extraction have gained momentum, particularly during events like New York's Climate Week. These appeals are centered on the urgent need to address global temperature rise. However, abruptly ending fossil fuel production worldwide would have catastrophic consequences. Fossil fuels play a crucial role in providing essential power and fuel for transportation. A sudden halt would result in widespread blackouts, disrupt supply chains, and lead to shortages of essential goods. Activists and experts are advocating for a more nuanced approach, focusing on preventing new fossil fuel extraction while transitioning to renewable energy sources and technologies to achieve emission reduction goals. Balancing the phase-out of fossil fuels with the expansion of renewables remains a complex challenge in the pursuit of cleaner energy solutions.

Key quote:

“The expectation isn’t that extraction will stop everywhere in the world,” said Kelly Trout, the research co-director at Oil Change International. Many groups are focused on preventing new oil and gas extraction, in line with models that show that any new oil and gas production will take the world over the 1.5-degrees-Celsius goal.

The big picture:

Immediate cessation of fossil fuel use would have significant health and environmental repercussions. Sudden discontinuation would disrupt electricity grids, causing widespread blackouts and impeding essential services. The transportation sector, heavily reliant on oil, would face severe disruptions, impacting the delivery of goods and potentially causing food shortages. Such a move would necessitate a rapid transition to renewable energy sources, which, if not well-planned, could lead to job displacement and social challenges. A measured shift towards renewable energy from fossil fuels promotes energy stability, economic sustainability, and a more effective response to climate change.

Read the article in the Washington Post.

Be sure to read Brian Bienkowski's piece analyzing the growth of renewable energy from 2009 to 2019.

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