'Global North countries fueling the fire' US, Australia, Canada, Norway blocking progress on oil & gas phase out: Report

NEW DELHI: Four developed countries, including the US and Australia, are overwhelmingly responsible for derailing potential global progress on phasing out oil and gas since the Paris Agreement, while the rest of the world has either slowed or reduced fossil fuel extraction, according to a report published on Tuesday.

- MPOST BUREAU

‘The report titled “Planet Wreckers: Global North Countries Fueling the Fire Since the Paris Agreement’, by research institution Oil Change International, said that the US, Australia, Canada and Norway together increased their oil and gas production by nearly 40 per cent between 2015 and 2024, even as combined extraction in the rest of the world fell by 2 per cent.

The US alone accounted for over 90 per cent of the net global increase in oil and gas extraction since the Paris Agreement, expanding production by nearly 11 million barrels of oil equivalent per day, more than five times as much as any other country.