cross-posted from: https://lemmy.world/post/54245880
The U.S. war with Iran has raised fossil fuel prices so much that the resulting drop in oil demand has put the world on track to see a rare dip in carbon emissions from these sources in 2026.
Between 2019 and 2025, carbon dioxide emissions from fossil fuels grew by about 0.8 percent annually, according to a new study published in Nature Climate Change. But 2026 is set to buck that trend: high oil prices, as well as the continued rise of green technology—solar power, wind and electric cars—will cause a “short-term” 0.4 percent drop, according to the study.
“The high petrol prices following the war in Iran are reducing oil use and keeping emissions low,” says the study’s lead author Corinne Le Quéré, a professor of climate change science at the University of East Anglia in England. “But that’s not the whole story: The expansion of renewable energy has progressed a lot in recent years, led by China. And [along with electric vehicles], this is offsetting two thirds of the growing demand for energy.”
With all sources of carbon considered, including deforestation, total global CO2 emissions are set to continue increasing.
Sadly we used to have a carbon tax, but we had to appease the morons.
Creating carbon credits didn’t help. Traded like baseball cards, or more often “lost” in the shuffling around of buying more carbon producing time.