Report claims giant oil pipe expansions could ruin climate targets

Still facing boycotts from western nations over the invasion of Ukraine, Russia is continuing its fuel monopoly by increasing oil exports to India and China. This is said to involve a further 2,000km of crude pipelines.

Compiling the ecological impact of all new pipelines internationally, GEM claims that at least five billion tons of further greenhouse gas could be produced every year.

In any case, our obligation to stay under 1.5C of global warming would surely be scuppered. Understandably frustrated, GEM spokesperson Baird Langenbrunner described the findings as an ‘almost deliberate act of failure’ from governments to deliver on vital climate agreements.

The oil industry reportedly boasted record profits in the last year, and ‘is using this moment of chaos and crisis to push ahead with massive expansions of oil pipeline networks,’ he says.

As you can imagine, a frankly ridiculous sum of investment hinges on this drive going ahead. GEM estimates that oil developers collectively face asset risks of up to $75 billion, as global leaders supposedly transition to low-carbon solutions and renewables. Come on karma, do your thing.

On a serious note, it appears we’re truly on the cusp of a make-or-break moment for the Paris Agreement. It’s unacceptable – and some would argue gravely predictable – that we’ve ended up in this situation in what is basically the home stretch.

The fact that COP27 is a matter of weeks away just adds insult to injury, and justifies the general feeling of trepidation and nihilism that superseded Glasgow’s summit. With these developments circulating, you can guarantee protests will be even more raucous in Egypt.