US to provide nearly two-thirds of world’s new oil and gas

Almost two-thirds of the world’s new oil and gas production will come from the US over the next decade, analysis by the international NGO Global Witness has found.

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The researchers estimate that new oil and gas production from the US will be 20 times greater than Russia’s, and 40 times what Saudi Arabia generates during that time.

If US sates are compared to countries, Texas and Pennsylvania will become the world’s first and third biggest producers respectively, with the former responsible for more than a quarter of all new oil and gas.

New Mexico, North Dakota, Oklahoma, Colorado and Ohio would also feature in the top 10 producers, with Canada, Brazil and Russia the only countries making the list.

In total, the analysis forecasts the US to increase its oil and gas production by 25% over the next decade, despite generation needing to fall 40% worldwide to avoid a “climate catastrophe”.

“The scale of new production forecast from the US is staggering, no other country comes even close," Global Witness senior campaigner, Murray Worthy, said.

"While the rest of the world moves ahead on setting ambitious climate goals, the US is doubling down on fossil fuels with a boom in oil and gas production that puts a safe climate at risk."

This comes after separate research from Global Witness found that there is $4.9trn (£3.8trn) of planned investment in new oil and gas exploration and extraction worldwide over the next decade.

The NGO said that this investment is incompatible with the Paris Agreement’s goals, and could only align with the targets if there is a huge carbon capture and removal.

And some of the scenarios that would align with the Paris goals would require nearly as much CO2 being captured from the atmosphere this century than has been emitted since the Industrial Revolution.

“The next US president needs to have a plan for how to tackle the climate crisis – starting with ending fossil fuel subsidies and curbing the power of the fossil fuel industry over federal and state government," Worthy said.

“We urge the Democratic National Committee to vote yes to holding a dedicated climate debate. Presidential candidates should have the opportunity to clearly outline for the American people where their priorities lie and what their plan is to tackle this looming carbon time bomb.”

 

Image credit: ©iStock

Author: 

Chris Seekings is a reporter for TRANSFORM

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