Huge expansion of oil pipelines endangering climate, says report

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https://www.theguardian.com/environment/2022/sep/27/huge-expansion-oil-pipelines-endangering-climate-says-report

By Damian Carrington, The Guardian. 

Excerpt: More than 24,000km of new oil pipelines are under development around the world, a distance equivalent to almost twice the Earth’s diameter, a report has revealed. The projects, led by the US, Russia, China and India, are “dramatically at odds with plans to limit global warming to 1.5C or 2C”, the researchers said. ...The developers of the 10,000km of pipelines in construction stand to lose up to $75bn (£70bn) if action on the climate crisis prevents the new pipelines being fully used, according to the analysts at Global Energy Monitor (GEM) who produced the report. ...“For governments endorsing these new pipelines, the report shows an almost deliberate failure to meet climate goals,” said Baird Langenbrunner at GEM. “Despite climate targets threatening to render fossil fuel infrastructure as stranded assets, the world’s biggest consumers of fossil fuels, led by the US and China, are doubling down on oil pipeline expansion.” The oil industry enjoyed record profits in the last year, the report said, and “is using this moment of chaos and crisis to push ahead with massive expansions of oil pipeline networks”.… 

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