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Today at #COP27, we @priceofoil released a briefing peeling back the curtain on the oil & gas industry’s expansion plans: the new extraction approved in 2022 & what’s in the queue for 2023-2025ーunless govts put a stop to it ➡️ priceofoil.org/investing-in-d…

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First, let’s look at the deep hole the fossil fuel industry has already drilled, dug, and fracked us into. 🔥Oil & gas fields already producing or approved PRIOR to 2022 would cause 490 GtCO2, if fully extracted. 🔥

That alone is enough to push the world past 1.5C warming.
Yet, the oil and gas industry keeps digging the hole deeper. We find new fields & fracking wells approved in 2022 + on the brink of approval in the next 3yrs would lock in an extra 70 Gt of CO2. That’s equal to 17% of the world’s remaining 1.5C carbon budget. #InvestingInDisaster
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