Plans by BP and other fossil fuel companies to drill for oil in the pristine waters off south Australia could take up a third of the country’s entire carbon budget if successful, a new report has estimated.
The Climate Analytics report, commissioned by conservation group The Wilderness Society, concluded that adding the oil from the Great Australian Bight (GAB) into the world’s energy system was “inconsistent with the global temperature and emission limits from the Paris agreement”.
Several fossil fuel firms, including Chevron and Santos, have plans to explore for oil in the GAB, but BP’s proposal to drill four exploration wells as much as 2,200 metres down on the ocean floor are the most advanced.
How do you successfully phase out fossil fuel subsidies in less than 10 years? The first step would be identifying what a subsidy actually is.
And if you’re the British Government, you...