The Paris Agreement calls for holding the global average temperature increase to well below two degrees C. To achieve this goal, society needs to go through an energy transition. We need to vastly increase no/low-carbon energy production, and we need massive deployment of carbon dioxide capture and storage capability. However, the policies necessary to drive the transition haven’t been put in place. Almost 10 years after the Paris Agreement, crude oil production continues to increase by 1-2 million barrels per year.
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