Curbing fossil fuel supply to achieve climate goals

The Oxymoron of Carbon Dioxide Removal: Escaping Carbon Lock-In and yet Perpetuating the Fossil Status Quo?

“…Perhaps the debate on CDR governance too has been narrowly caught up in delivering the promise of net-zero. But, as curbing fossil fuel supply is becoming a major topic in the climate policy conversation (Piggot et al, 2020), now is a time to turn around the question about the role of CDR in energy decarbonisation. Gaede and Meadowcroft (2016) argued that CCS was a "Janus-faced technology" that could both slow and accelerate the transition to a decarbonised energy future.…”

“…Here, the pictures of "decarbonising" energy systems become murky. On the one hand, there is a growing call for deliberately reducing-and even prohibiting-the production and consumption of fossil fuels (Green, 2018;Piggot et al, 2018Piggot et al, , 2020Rosenbloom and Rinscheid, 2020). The assumption of such a call is that building an anti-fossil fuel norm and increasing the risk of stranded assets through financial divestment and other means will lead to more immediately phasing out fossil fuels and hence accelerating a transition towards non-fossil energy.…”

Trends in fossil fuel extraction

“…There are many reasons why fossil fuels have not explicitly been addressed by the UNFCCC (Piggot et al, 2018). Nevertheless, the conversation is starting to open up about possible "supplyside" agreements on fossil fuels and climate change, either as part of the UNFCCC or beyond (Asheim et al, 2019;Piggot et al, 2020). For example, a number of countries, including Denmark, France, and New Zealand, have started taking measures to phase out their oil and gas production (Ambrose, 2020).…”

“…The goal of this paper is to contribute to this emerging discussion on why countries might work together to limit fossil fuel extraction. We are motivated both by the importance of managing fossil fuel supply in effective global climate policy (Piggot et al, 2020), and also by the equity implications of a rapid transition away from the commodities -coal, oil, and gas -that some communities (and some countries) depend on for their livelihoods. Indeed, in considering fossil fuel supply as an equity issue, we are building on a rapidly growing literature on equity considerations in the transition away from fossil fuel extraction (Armstrong, 2020;Caney, 2016;Kartha et al, 2016;Le Billon & Kristoffersen, 2019;Lenferna, 2017;Muttitt & Kartha, 2020;Pye et al, 2020;SEI et al, 2020) Accordingly, we present a simple analysis on where fossil fuel extraction has happened historically, and where it will continue to occur and expand if current economic trends continue without new policy interventions.…”

A Petrostate’s Outlook on Low-Carbon Transitions: The Discursive Frames of Petroleum Policy in Norway

“…The carbon budget is tightening [2][3][4], and there is growing concern worldwide about climate-induced financial risks, such as stranded assets [5][6][7], as the need for keeping fossil fuels in the ground becomes increasingly evident. Calls to target not only the demand side of fossil fuels, but also the supply side of fossil fuels by adopting fossil fuel restrictions to mitigate climate change are being made [8][9][10][11][12][13][14]. However, as Piggot et al [12] point out, more research is needed to understand the circumstances that influence the adoption of supply-side policies.…”