France plans to end oil and gas production by 2040

7 Sep 2017   France, Nuclear

France plans to pass legislation by the end of 2017 to phase out all oil and gas exploration and production on its mainland and overseas territories by 2040, becoming the first country to do so, according to a draft bill presented on Wednesday. President Emmanuel Macron wants to make France carbon neutral by 2050 and plans to curb green house gas emissions by leaving fossil fuels, blamed for contributing to global warming, in the ground. Under the draft bill presented to cabinet on Wednesday, France will no longer issue exploration permits and the extension of current concessions will be gradually limited until they are phased out by 2040 – the same year when France plans to end the sale of gasoline and diesel vehicles. The decision is, however, largely symbolic because France only produces about 6 million barrels of hydrocarbons a year, representing about 1 percent […]

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