Number crunching how to prevent a 2 degC rise Figures courtesy of McGlade, Ekins: Letter to Nature
As a petroleum engineer, I saw first-hand the decline in mature reservoirs in locations as diverse as the North Sea, onshore Romania and Dubai. I believed the traditional view that the global oil industry would start to slow naturally as economically viable supply dried up and rising fossil fuel prices drove the development of new energy sources and technologies. I have had to re-examine this theory recently in my research at the UCL Energy Institute, finding out that it may be necessary to leave economical reserves in the ground to prevent runaway climate change by stabilising CO2 levels. Given this evidence, do we need immediate intervention in global markets to accelerate the transition to cleaner energy? Read More »