To save the climate, the oil and gas sector must slash planet-warming operations, report says

By SIBI ARASU
Associated Press

The oil and gas sector, one of the major emitters of planet-warming gases, will need a rapid and substantial overhaul for the world to avoid even worse extremes fueled by human-caused climate change. That’s according to a report released Thursday. The International Energy Agency says the current investment of $800 billion a year for the oil and gas sector will need to be slashed in half and emissions need to fall by 60% to give the world a fighting chance to meet its climate goals. It also found that the sector’s investment into clean technologies like solar and wind only account for 1% of the global total.