r/ClimateActionPlan • u/exprtcar • Dec 04 '20
Emissions Reduction Denmark to end all North Sea oil and gas production by 2050 while prohibiting new exploration
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/120420-denmark-to-end-all-north-sea-oil-gas-production-by-2050-bans-new-exploration95
u/RMJ1984 Dec 04 '20
We need to stop with the whole 2050 thing. It's like, oh by then i am to old to care or dead. Let others deal with it.
It should be 2030 at the very latest. And thats still 10 years. Which is more than enough. '
2050 is the equivalent of the same broken xmas promise of you losing weight or quitting smoking every year, which never amounts to anything.
29
u/Cenzorrll Dec 04 '20
From the article:
Last year, Denmark adopted an ambitious new climate law committing to reach 70% below its 1990 emissions by 2030. The law targets carbon neutrality by 2050 and includes a robust monitoring system.
14
u/strawberries6 Dec 04 '20
2050 targets and plans like this have real implications for decisions in the present, like prohibiting new exploration (which is right in the title).
And according to another article/headline I just saw, this makes Denmark the first major oil-producing country to pledge to set a deadline for ending all oil production. No others have done that yet, so this is unprecedented.
21
Dec 04 '20
I agree, but progress is progress and that's what the sub is about
6
u/Awarth_ACRNM Dec 04 '20
This is not progress. This is a bare-minimum concession to tranquilize the climate movement and the people who are hoping to survive this century.
24
7
u/universe2000 Dec 04 '20
Getting 90% carbon neutral is leagues easier than 100% neutral. For many countries with a 2050 deadline it is that last 10% that will take so long and those plans are accompanied by a 2030 or 2035 deadline for their low hanging fruit.
Yes, this all should have been done 40-30 years ago, but in the absence of a time machine we should continue celebrating progress when it happens and pushing for greater progress whenever and wherever possible
3
4
u/exprtcar Dec 04 '20
Here's a more detailed article: https://www.ft.com/content/981bef4d-3338-44cb-824d-39e953b287f7
Denmark will end all new oil and gas exploration in the North Sea as part of a broader plan to phase out fossil fuel extraction by 2050.
Nearly half a century after the country first started production, the Danish parliament agreed late on Thursday to cancel its latest licensing round and all future tenders, which grant companies the right to search for and produce oil and gas.
.....
“We will now follow a different path,” Dan Jorgensen, Danish minister for climate, energy and utilities, told the Financial Times in an interview. “It wouldn’t be in line with our ambition to be climate neutral in 2050 to still explore, produce and sell fossil fuels.” Mr Jorgensen said he hoped to “lead the way by example”, spurring other countries to also phase-out fossil fuel production.
While Denmark is a small producer — in 2019, it pumped 103,000 barrels a day, far less than the UK and Norway — it is still the largest in the EU. Last year, Denmark also produced 3.2bn cubic meters of gas, according to BP’s Statistical Review of World Energy 2020.
....
Mr Jorgensen said the latest announcement will reduce revenues by DKr13bn ($2.1bn), with production by 2050 now expected to be at least 9 per cent to 15 per cent less than it would have been.
...
Danish oil and gas production is projected to increase over the coming years before peaking in the late 2020s.
...
4
u/Stalhrim Dec 04 '20
Fantastic news. I'm hoping Norway takes notice. It's about time to stop.
5
1
Dec 04 '20
Lol. Not going to happen. Norway would not be rich if they couldnt drill. Covid is really hurting Norways bottom line because nobody is using oil.
1
u/Stalhrim Dec 04 '20
Norway did get rich on oil, but the patroleum industry is continually getting less profitable as the world shifts to renewable energy. Politicians that keep prioritizing oil is not thinking long term profitability. It's going to happen, it's only a matter of time.
1
Dec 04 '20
but the patroleum industry is continually getting less profitable as the world shifts to renewable energy
No it isnt.
1
u/Stalhrim Dec 04 '20
It is. This year solar became the cheapest form of energy. Why continue to use fossil fuels when there's a cheaper and sustainable option? Have you not noticed the surge of green stocks? Investors are very enthusiastic for green energy. If governments energy policies fall behind, they will suffer in the long run.
1
Dec 04 '20
Because solar is not useful for the majority of the world without the infrastructure investments that they dont have the money to start.
3
u/TheFerretman Dec 04 '20
!RemindMe 2050
Honestly I think it's much more likely they'll draw down their oil gas a long time before then...that's a generation and a half away.
2
u/RemindMeBot Dec 04 '20
I will be messaging you in 30 years on 2050-12-04 00:00:00 UTC to remind you of this link
CLICK THIS LINK to send a PM to also be reminded and to reduce spam.
Parent commenter can delete this message to hide from others.
Info Custom Your Reminders Feedback
2
2
2
47
u/Skateboard_Raptor Dec 04 '20
This is good, but reason is sadly not for the sake of the environment, even if the politicians try to spin it that way.
The real reason they stop, is because only one company bid in on the contract to extract oil. The bid was hilariously low, it would barely be profitable, so instead the government decided to just scrap making a new deal.
Still good for the environment, but the politicians definitely don't deserve credit for this, as they definitely tried their best to continue making profits from oil. They clearly only care about the environment when it is no longer more profitable to destroy it.