Now they are stepping up production of oil, gas and coal, which will have the opposite effect. But the state-owned Abu Dhabi National Oil Co. plans to boost oil production capacity to 5 million barrels a day by 2027 from the current 4 million barrels a day. In 2015, world leaders met in Paris and pledged to slow coal, oil and gas production to keep the climate from warming more than 1.5 degrees Celsius above preindustrial levels. By 2030, the U.S. expects to cut coal production by 43%, while China plans a 15% reduction. That drop will be overshadowed by new coal production in India, Indonesia and Russia, the report said.

Source: Wall Street Journal November 08, 2023 12:33 UTC