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Fossil fuel divestment or fossil fuel divestment and investment in climate solutions is an attempt to reduce climate change by exerting social, political, and economic pressure for the institutional divestment of assets including stocks, bonds, and other financial instruments connected to companies involved in extracting fossil fuels.
While crude oil and natural gas are also being phased out in chemical processes (e.g. production of new building blocks for plastics) as the circular economy and biobased economy (e.g. bioplastics) are being developed [17] to reduce plastic pollution, the fossil fuel phase out specifically aims to end the burning of fossil fuels and the consequent production of greenhouse gases.
While phasing out these fossil fuels will benefit the world climate in the long run, little has been done to stop burning fossil fuels and emitting CO 2 into the atmosphere. If the United States effectively phases out fossil fuels, tons of energy in the form of oil, coal, and natural gas will be left untouched under the surface of the ground.
A non-renewable resource (also called a finite resource) is a natural resource that cannot be readily replaced by natural means at a pace quick enough to keep up with consumption. [1] An example is carbon-based fossil fuels. The original organic matter, with the aid of heat and pressure, becomes a fuel such as oil or gas.
The depletion of resources has been an issue since the beginning of the 19th century amidst the First Industrial Revolution.The extraction of both renewable and non-renewable resources increased drastically, much further than thought possible pre-industrialization, due to the technological advancements and economic development that lead to an increased demand for natural resources.
Renewable energy sources are even larger than the traditional fossil fuels and in theory can easily supply the world's energy needs. 89 PW [32] of solar power falls on the planet's surface. While it is not possible to capture all, or even most, of this energy, capturing less than 0.02% would be enough to meet the current energy needs.
Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in ...
Fossil fuels are non-renewable resources, which will eventually decline in production [13] and become exhausted. While the processes that created fossil fuels are ongoing, fuels are consumed far more quickly than the natural rate of replenishment. Extracting fuels becomes increasingly costly as society consumes the most accessible fuel deposits ...