IEA: We can only burn 1/3 of the remaining fossil fuel

The International Energy Agency is now mirroring the claim made by Bill McKibben, James Hansen, and others: we cannot burn all the world’s fossil fuels. In their World Energy Outlook 2012, they claim:

“No more than one-third of proven reserves of fossil fuels can be consumed prior to 2050 if the world is to achieve the 2 °C goal, unless carbon capture and storage (CCS) technology is widely deployed”

Carbon capture and storage is arguably more of a rhetorical device which allows companies and governments to assume fossil fuel use than a real technology capable of reducing emissions. As such, it seems fair to say that we face a stark choice between dangerous climate change and abandoning fossil fuels.

Given that the value of fossil fuel companies is based on the assumption that they will be able to dig up and sell all the reserves they own, now might be an especially appropriate time to start divesting from fossil fuels.

Author: Milan

In the spring of 2005, I graduated from the University of British Columbia with a degree in International Relations and a general focus in the area of environmental politics. In the fall of 2005, I began reading for an M.Phil in IR at Wadham College, Oxford. Outside school, I am very interested in photography, writing, and the outdoors. I am writing this blog to keep in touch with friends and family around the world, provide a more personal view of graduate student life in Oxford, and pass on some lessons I've learned here. View all posts by Milan