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Fossil Fuel Nations Planning ‘Insane’ Output Hikes – Guardian

Petrostates and oil, gas and coal companies still intend to keep on making trillions of dollars a year by increasing production

Smoke rises from a factory in front of Mount Fuji in the Keihin industrial zone in Kawasaki, Japan. Photo: Reuters


The world’s leading fossil fuel producers are planning “insane” production hikes that would double the planet’s carbon budget, The Guardian reported, with India, Saudi Arabia and Russia leading the emissions charge.

The plans would lead to 460% more coal production, 83% more gas and 29% more oil in 2030 than it was possible to burn if the global temperature rise was to be kept to the internationally agreed 1.5C, the report went on.

The countries responsible for the biggest carbon emissions from planned fossil fuel production are India (coal), Saudi Arabia (oil) and Russia (coal, oil and gas). The US and Canada are also planning to be major oil producers, as is the United Arab Emirates, said the report.

Read the full story: The Guardian


  • By Sean O’Meara


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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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