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Climate Concern Makes Some Oil Unburnable, Says BP Chief Economist

2015-10-13 14:24:00| Climate Ark Climate Change & Global Warming Newsfeed

Climate Home: Some of the worlds oil will not be burned as a result of climate concerns, BPs chief economist said on Tuesday. Scientists have calculated around a third of proven oil reserves need to stay in the ground to hold global warming to 2C, the international goal. Spencer Dales remarks, in a speech to the Society of Business Economists in London, represented a rare acceptance of that analysis from the industry. "The oil market has changed very significantly over the past 10 or 15 years. Concerns...

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