Fossil fuels
BP predicts higher oil and gas demand, suggesting world will not hit 2050 net zero target | BP
BP has raised its forecasts for oil and gas demand, suggesting global net zero target for 2050 will not be met, in the latest sign the transition to clean energy is decelerating. The energy company’s closely watched outlook report has estimated that oil use is on track to hit 83m barrels a day in 2050, […]
Ed Miliband looking into more North Sea drilling despite Labour pledge | Energy industry
Ed Miliband is planning to encourage drilling in the North Sea despite a manifesto promise not to grant new licences on new parts of the British sea bed. The energy secretary is looking at ways in which the government can allow companies to look for and produce more oil and gas without breaking Labour’s pre-election […]
Australia’s fossil fuel earnings set to fall by $50bn a year by 2035 | Australian economy
The value of Australia’s coal and gas exports is predicted to plummet by 50% over the next five years as global demand for fossil fuel falls , according to Treasury modelling. The modelling, released on Thursday as the government announced its emissions reduction target for 2035, found the annual value of fossil fuel exports is […]