• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 7 mins Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
  • 17 mins Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 3 hours Is $60/Bbl WTI still considered a break even for Shale Oil
  • 1 hour Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 5 hours Asia Oil Refiners Mull Run Cuts With Margins At 16 yrs. Low For Season
  • 3 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 9 hours Devastating Sanctions: Iran and Venezuela hurting
  • 3 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 28 mins Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 3 hours Misunderstanding between USA and Iran the cause of current stand off, I call BS
  • 3 hours ARAMCO BOARD: Former Dow Chemical CEO Andrew Liveris: I want to help Saudi Arabia become a 21st century economy
  • 5 hours IMO 2020 could create fierce competition for scarce water resources
  • 5 hours IMO2020 To scrub or not to scrub
Libyan Oil Industry Stable Despite ISIS Return

Libyan Oil Industry Stable Despite ISIS Return

Libya’s oil industry reported its…

The Driving Force Behind Nigeria’s Energy Renaissance

The Driving Force Behind Nigeria’s Energy Renaissance

Nigeria has traditionally been one…

IEA: Emissions In Developed Economies Rise For First Time In Five Years

Emissions

Carbon emissions in the world’s developed economies are set to increase this year for the first time in five years, as higher oil and gas use has more than offset dwindling coal consumption, the International Energy Agency (IEA) said on Tuesday, calling for increased efforts to encourage renewable energy deployment and energy efficiency.

 

According to the latest available energy data, energy-related carbon dioxide (CO2) emissions in North America, the European Union (EU), and the advanced economies in Asia Pacific are set to increase by 0.5 percent in 2018, bucking a five-year-long declining trend, the IEA said.

 

The Paris-based agency also expects carbon emissions at emerging economies to grow this year compared to last year. Full global emissions data for 2018 won’t be released until March next year, but the IEA expects emissions to have increased globally this year, on the back of higher energy use and 3.7-percent global economic growth.

 

“Global energy-related CO2 emissions need to peak as soon as possible and then enter a steep decline for countries to meet climate goals,” the IEA said today.

 

“Our data shows that despite the strong growth in solar PV and wind, emissions have started to rise again in advanced economies, highlighting the need for deploying all technologies and energy efficiency,” Fatih Birol, the IEA’s Executive Director, noted.

 

Last year, global energy-related CO2 emissions rose by 1.4 percent to reach a historic high, the first increase in emissions after three years of global emissions remaining flat, the IEA has estimated. Carbon emissions growth last year was not universal, with emissions in major advanced economies, including the United States, the United Kingdom, and Japan, declining. The biggest decline in 2017 came from the United States, mainly because of higher deployment of renewables.

 

The latest UN report also showed last week that global CO2 emissions increased again in 2017 after a three-year hiatus.

“The science is clear; for all the ambitious climate action we’ve seen – governments need to move faster and with greater urgency. We’re feeding this fire while the means to extinguish it are within reach,” said the United Nations Environment Programme’s (UNEP) Deputy Executive Director Joyce Msuya.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News