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How Much Further Can Libya’s Oil Production Fall?

How Much Further Can Libya’s Oil Production Fall?

Once perceived as the wildcard…

Big Oil Warned Trump That China Trade Deal Wouldn't Work

Big Oil Warned Trump That China Trade Deal Wouldn't Work

The American Petroleum Institute warned…

China’s Carbon Emissions Surged 53.5% In 10-Years Time

Emissions

China’s greenhouse gas emissions jumped by 53.5 percent in the decade between 2005 and 2014, according to Chinese government figures that Beijing is obliged to report as a signatory to the United Nations Framework Convention on Climate Change.

hinese emissions hit 12.3 billion tons in 2014, which was a more than 50-percent surge compared to emissions in 2005, the figures, cited by Reuters, showed.

Carbon emissions data from China, the world’s largest greenhouse gas emission producer, is opaque, but the country has to regularly report data to the United Nations. China has previously reported carbon emission data for 2005 and 2010, Reuters says.

A study published in Nature Geoscience in July last year argued that China’s carbon dioxide (CO2) emissions peaked in 2013 at 9.53 gigatons and have declined in each of the following three years to 2016. According to the authors of the study, the slowing pace of Chinese economic growth has made it easier to cut emissions. The biggest drivers of the decrease in CO2 emissions between 2014 and 2016 were changes in China’s industrial structure and diminishing share of coal in energy consumption. The authors concluded that “the decline of Chinese emissions is structural and is likely to be sustained if the nascent industrial and energy system transitions continue.”

China has pledged that its total CO2 emissions would peak around 2030 and its carbon intensity would fall sharply by then. Last week, Chinese media reported that China is vowing to continue its efforts to fight climate change and boost energy saving and speed up emissions reduction.

As for the United States' carbon emissions, earlier this year, Dr. Fatih Birol, the Executive Director of the International Energy Agency (IEA), said the U.S. CO2 emissions reduction over the past decade has been the largest cut in emissions in the history of energy.

The IEA, however, has a stark warning to the world: last year global carbon emissions reached 33.1 gigatons, breaking their previous record even though the annual increase was relatively modest, at 1.7 percent.

By Tsvetana Paraskova for Oilprice.com

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  • Bill Simpson on July 16 2019 said:
    China is a perfect example of why the fight against global warming is useless. Carbon dioxide emissions will continue increasing until the fossil fuels begin to run out, leading to global economic collapse. It is inevitable now, because we have allowed ourselves to become overly dependent on fossil fuels for transportation and electricity generation. Trying to limit their use won't happen because developing countries won't agree to limit their development by using more expensive energy than fossil fuels. Nor could we do it, because trying to reduce their use now would cause an economic crash far worse than the Great Depression. There is too much debt everywhere, which would take down the entire financial system in a severe economic contraction caused by anything. The economic collapse from trying to significantly reduce fossil fuel use in transportation and electricity generation would soon starve billions of people, which would be far worse than global warming could ever be.
    So get used to the ice melting and sea level rise. It is a done deal. We can't go back in time and build thousands of nuclear power plants to replace coal, oil and natural gas.

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