The world may no longer need more fossil fuels

A study by researchers at University College London and the International Institute for Sustainable Development concludes that future trends in demand for oil, gas and coal, including for electricity generation, do not justify increasing fossil fuel production capacity. The demand scenarios studied lead to an increase in average global temperature of no more than 1.5 degrees Celsius, in line with the objectives of the Paris Agreement. This study corroborates the International Energy Agency's analysis, which calls on energy groups to stop investing to increase their oil and gas reserves. This analysis is contested by the major oil groups, who believe that there is a growing demand for fossil fuels that justifies continued investment in upstream oil and gas.