US Leads Push to Open New Oil Fields

Houston, TX

IEA experts at the Paris Accords said that no new development of oil and gas infrastructure could take place if the planet is to meet the agreed goal of 1.5℃ rise in global temperature. That red-line will be breached sometime in the next decade as a surge in oil and gas development is occurring. At least 20 new fields are being readied for production equivalent to 20 bn barrels of oil. The United States leads the way in the new expansion. The US has produced more crude oil than any other country in history six years in a row. The demagogue running for office wants to produce even more. [photo credit: Getty Images]

One industry expert says the increase in production efforts shows a clear lack of commitment on the supply-side to global warming goals calling it "disappointing". The industry's attitude of "drill, baby drill" is more than that, it's dangerous. Earth is already experiencing erratic and severe weather caused by global warming.

Fossil fuel development is also expanding in the global south. Four countries--Namibia, Cyprus, Guyana and Zimbabwe--account for one third of new discoveries in the past two years. These countries previously produced little oil or gas. The Venus Project in Namibia is the second largest discovery behind the Shahini gas field in Iran reportedly containing 623 bn meters of gas. Already operating oil and gas fields will be enough to push the planet beyond the Paris limit. New projects will only add to the planet's climate crisis. Since the 2021 IEA report, forty-five new projects have been fully approved.