Global Fossils Fuels Consumption

Global fossil fuel consumption and energy emissions hit all-time highs in 2023, even as fossil fuels' share of the global energy mix decreased slightly on the year, the industry's Statistical Review of World Energy report said on Thursday.

Representatives from nearly 200 countries agreed at the COP28 climate summit on Wednesday to begin reducing global consumption of fossil fuels to avert the worst impacts of climate change, signaling the eventual end of the oil age.

Burning the world's remaining fossil fuel reserves would unleash 3.5 trillion tonnes of greenhouse gas emissions, according to the first public inventory of hydrocarbons released Monday.

The global cost of air pollution caused by fossil fuels is $8 billion a day, or roughly 3.3 percent of the entire world's economic output, an environmental research group said on Wednesday.

The world's major industrial democracies spend at least $100 billion each year to prop up oil, gas and coal consumption, despite vows to end fossil fuel subsidies by 2025, a report said on Monday ahead of the G7 summit in Canada.

The shine is coming off once bright prospects for natural gas as the future fossil fuel of choice in Asia as power companies in India and Southeast Asia tap abundant and cheap domestic coal resources to generate electricity.

Global fossil fuel consumption and energy emissions hit all-time highs in 2023, even as fossil fuels' share of the global energy mix decreased slightly on the year, the industry's Statistical Review of World Energy report said on Thursday.

Representatives from nearly 200 countries agreed at the COP28 climate summit on Wednesday to begin reducing global consumption of fossil fuels to avert the worst impacts of climate change, signaling the eventual end of the oil age.

Burning the world's remaining fossil fuel reserves would unleash 3.5 trillion tonnes of greenhouse gas emissions, according to the first public inventory of hydrocarbons released Monday.

The global cost of air pollution caused by fossil fuels is $8 billion a day, or roughly 3.3 percent of the entire world's economic output, an environmental research group said on Wednesday.

The world's major industrial democracies spend at least $100 billion each year to prop up oil, gas and coal consumption, despite vows to end fossil fuel subsidies by 2025, a report said on Monday ahead of the G7 summit in Canada.

The shine is coming off once bright prospects for natural gas as the future fossil fuel of choice in Asia as power companies in India and Southeast Asia tap abundant and cheap domestic coal resources to generate electricity.